Cebu Pacific (CEB), the Philippine’s leading carrier, has signed a binding Memorandum of Understanding (MOU) with Airbus for the purchase of up to 152 A321neo aircraft for USD $24 billion (PHP 1.4 trillion) based on list prices, the largest aircraft order in Philippine aviation history.

CEB has selected Pratt & Whitney GTF™ engines to power the future aircraft. The MOU covers firm orders for up to 102 A321neo, plus 50 A320neo Family purchase rights.

“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,” said CEB Chief Executive Officer Michael Szucs.

“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.

Source cebupacificair.com