In the bustling environment of the Farnborough Air Show, Cebu Pacific, Airbus, and Pratt & Whitney celebrated a landmark moment with the signing of a memorandum of understanding (MOU). This MOU marks Cebu Pacific’s historic decision to purchase up to 152 A321neo aircraft, a deal valued at approximately USD $24 billion (PHP 1.4 trillion). This colossal order, the largest in Philippine aviation history, underscores the airline’s ambitions to expand its fleet and enhance its operational capabilities. Pratt & Whitney, will power these new aircraft with their advanced GTF engines.
The MOU encompasses firm orders for 102 A321neo aircraft, with the option for an additional 50 from the A320neo family. This strategic choice allows Cebu Pacific to maintain flexibility, adapting their fleet composition based on market demands. “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,” explained Michael Szucs, Cebu Pacific’s CEO. He highlighted that this monumental deal aligns with the airline’s mission to make air travel more accessible and affordable while driving the growth of the Philippine economy.
Airbus expressed their appreciation for Cebu Pacific’s confidence in their aircraft, viewing the MOU as a strong endorsement of their products. “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,” said Benoît de Saint-Exupéry, Executive Vice President of Commercial Aircraft Sales at Airbus. This agreement is seen as a positive signal for the aviation industry’s recovery, particularly in the Asia-Pacific region, where low-cost carriers like CEB are leading the charge.
Pratt & Whitney, likewise, acknowledged the significance of CEB’s commitment to their GTF engines. “This latest order demonstrates the growing opportunities for aviation in the Philippines and the larger Asia-Pacific region,” stated Rick Deurloo, President of Commercial Engines at Pratt & Whitney. He emphasized the GTF engine’s role in promoting fuel efficiency and sustainability for single-aisle aircraft. The completion of this substantial purchase agreement is anticipated in the third quarter, marking a new chapter in Cebu Pacific’s journey towards fleet modernization and enhanced service offerings.
(Source: RTX Press Release)
