This picture shows Cebu Pacific planes parked at Ninoy Aquino International Airport in Pasay, Metro Manila on January 1, 2023. (Photo by KEVIN TRISTAN ESPIRITU / AFP)
Manila, Philippines — Budget carrier Cebu Pacific picked Airbus as its aircraft supplier for a $24-billion (P1.4 trillion) purchase order comprising up to 152 A321neo (new engine option) jets, making this deal the biggest in Philippine aviation history.
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In a statement on Tuesday, the Gokongwei-led airline said it had signed the binding memorandum of understanding (MOU) with Airbus. The purchase agreement is eyed to be finalized by the third quarter of this year.
It also tapped Pratt & Whitney GTF engines to power the ordered aircraft, consisting of up to 102 A321neo and 50 A320neo purchase rights.
“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,” Cebu Pacific CEO Michael Szucs said.