Cebu Pacific Signs Binding MOU for 152 Airbus Aircraft

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(05/07/24)
 Cebu Pacific has signed a binding
Memorandum of Understanding with Airbus for the purchase of up to
152 A321neo aircraft for USD $24 billion (PHP 1.4 trillion), based
on list prices, the largest aircraft order in Philippine aviation
history.

The airline has selected Pratt & Whitney GTF engines to
power the aircraft.

The MOU covers firm orders for up to
102 A321neo, and purchase rights for 50 A320neo Family aircraft.

“The order is designed to provide Cebu Pacific
with maximum flexibility to adapt fleet growth to market
conditions, with the ability to switch between the A321neo and
A320neo,” said Cebu Pacific’s Chief Executive Officer, Michael Szucs. “When
finalized, the deal will be a significant milestone for the local
airline industry and a testament to Cebu Pacific’s unwavering commitment to
support the Philippine growth story.”

The purchase agreement to finalize this
transaction is expected to be completed in the third quarter of
this year.

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