Philippine carrier Cebu Pacific acquires 152 Airbus aircraft in monumental USD24B deal
(MENAFN) On Tuesday, Philippine carrier Cebu Pacific announced its interest in acquiring up to 152 Airbus aircraft in a monumental USD24 billion deal, which is being hailed as the largest aircraft order in the history of the country's Aviation sector. This strategic move aims to provide Cebu Pacific with the flexibility to adjust its fleet growth according to market conditions, enabling a seamless transition between the A321neo and the A320neo models. In a statement, Cebu Pacific General Manager Michael Szokes emphasized the importance of this flexibility for the airline's future operations.
The agreement involves a binding memorandum of understanding with Airbus, which includes firm orders for up to 102 A321neo aircraft and options for an additional 50 A320neo aircraft. This extensive order, valued at USD24 billion based on list prices, underscores Cebu Pacific's ambitious expansion plans and commitment to modernizing its fleet. The airline also revealed its intention to equip these new aircraft with Pratt & Whitney engines, ensuring enhanced performance and reliability.
Szokes highlighted the significance of this deal, noting that its completion would represent a major milestone for the domestic aviation industry. The transaction is expected to be finalized by the third quarter of 2024, marking a pivotal moment in Cebu Pacific's growth trajectory and the broader aviation landscape in the Philippines.
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