Cebu Pacific Eyes $24-B Plane Purchase

Cebu Pacific (CEB), the Philippines' leading carrier, has signed a binding Memorandum of Understanding (MOU) with Airbus for the purchase of up to 152 A321neo aircraft, valued at USD $24 billion (PHP 1.4 trillion) based on list prices.

The planned purchase will be the largest aircraft order in Philippine aviation history. I Photo: JG Summit

This represents the largest aircraft order in Philippine aviation history.

CEB has chosen Pratt & Whitney GTF™ engines to power these future aircraft. The MOU includes firm orders for up to 102 A321neo aircraft, with an additional 50 A320neo Family purchase rights.

CEB Chief Executive Officer Michael Szucs stated, “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.”

He added, “When finalized, the deal will be a significant milestone for the local airline industry and a testament to CEB’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 the year.