Budget air carrier Cebu Pacific has finalized its landmark P1.4 trillion agreement with Airbus and Pratt & Whitney for up to 152 A321neo aircraft, powered by Pratt & Whitney GTF engines.
The deal, formally signed by Cebu Pacific CEO Michael Szucs, Airbus executive vice president for Sales Benoit de Saint-Exupery, and Pratt & Whitney President for Commercial Engines Rick Deurloo on Wednesday night, includes firm orders for 102 A321neo aircraft and purchase rights for 50 A320neo family units.
The acquisition, which guarantees a minimum of 70 aircraft, is the largest in Philippine aviation history, priced at approximately $24 billion or P1.4 trillion at list prices.
Operational efficiency
“The selection of Airbus and Pratt & Whitney underscores our commitment to operational efficiency, sustainability, and innovation, ensuring we deliver top-tier service while significantly reducing our carbon footprint,” Szucs said.
“This milestone reaffirms our dedication to expanding air travel accessibility and affordability while supporting the Philippines’ broader economic and connectivity goals,” he added.
Cebu Pacific operates one of the youngest fleets globally, consisting of nine Airbus 330s, 40 Airbus 320s, 23 Airbus 321s, and 15 ATR turboprop aircraft, enabling it to maintain the broadest network in the Philippines.