Under this MOU Cebu Pacific receives up to 102 A321neo and purchase rights for 50 A320neo, powered by Pratt & Whitney’s GTF engines.
Cebu Pacific (CEB), Airbus, and Pratt & Whitney have signed a memorandum of understanding (MOU) outlining CEB’s procurement of up to 152 A321neo aircraft for an estimated USD 24 billion, during a ceremony at the Farnborough Airshow. The definitive MOU encompasses firm commitments for up to 102 A321neo aircraft, along with purchase rights for an additional 50 aircraft from the A320neo family. Cebu Pacific (CEB) has opted for Pratt & Whitney’s GTF engines to provide propulsion for these forthcoming aircraft.
This agreement represents the largest single aircraft order in Philippine aviation history.
Michael Szucs, Chief Executive Officer of CEB, said, “The order is designed to give Cebu Pacific the flexibility to choose between the A321neo and A320neo aircraft as needed, helping us adapt to market changes, This deal is a significant milestone in our ongoing mission to make air travel more accessible and affordable for everyone while supporting the Philippine growth story.”
Pratt & Whitney expressed gratitude for CEB’s continued confidence in the GTF engine, which the airline initially selected in 2012.
Benoît de Saint-Exupéry, executive vice president of sales of Commercial Aircraft at Airbus, said, “We thank Cebu Pacific for its ongoing confidence in Airbus and its products. These latest-generation aircraft will enable the carrier to reduce its operating costs and continue to offer low fares in a competitive market environment. We look forward to continuing to work with the airline as it builds on its position as one of the leading low-cost carriers in the Asia-Pacific region,”
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The MOU is a testament to the CEB’s confidence in Airbus products and a positive signal for the aviation industry’s recovery. The purchase agreement to finalize this transaction is anticipated to be concluded in the third quarter of the year.
