Cebu Pacific Celebrates Agreement for up to 152 A321neo Aircraft Order with Airbus, RTX's Pratt & Whitney

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Cebu Pacific (CEB) has signed a memorandum of understanding (MOU) with Airbus and Pratt & Whitney for the purchase of up to 152 A321neo aircraft, valued at approximately $24 billion. This marks the largest aircraft order in Philippine aviation history. The agreement includes firm orders for up to 102 A321neo and 50 A320neo family purchase rights, all powered by Pratt & Whitney GTF™ engines.

CEB's CEO, Michael Szucs, emphasized the order's flexibility in adapting to market changes and supporting the airline's mission to make air travel more accessible. Airbus and Pratt & Whitney, an RTX business, expressed gratitude for CEB's confidence in their products. The purchase agreement is expected to be finalized in Q3 2024.

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Largest aircraft order in Philippine aviation history 

LONDON, July 22, 2024 /PRNewswire/ -- Farnborough Air Show – Cebu Pacific (CEB), Airbus, and Pratt & Whitney, held an official ceremony to commemorate a memorandum of understanding (MOU) signed for CEB's purchase of up to 152 A321neo aircraft for estimated USD $24 billion (PHP 1.4 trillion) based on list prices, the largest aircraft order in Philippine aviation history. Pratt & Whitney is an RTX (NYSE: RTX) business.

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

"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," said Michael Szucs, chief executive officer of CEB. "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."

Airbus said the MOU is a testament to the airline's confidence in its products and a positive signal for the aviation industry's recovery.

"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," said Benoît de Saint-Exupéry, executive vice president sales of Commercial Aircraft at Airbus.

Pratt & Whitney expressed gratitude for CEB's continued confidence in the GTF engine, which the airline initially selected in 2012.

"This latest order demonstrates the growing opportunities for aviation in the Philippines and the larger Asia Pacific region," said Rick Deurloo, president of Commercial Engines at Pratt & Whitney. "Our GTF engine will power this growth while delivering industry-leading fuel efficiency and sustainability benefits for single-aisle aircraft. Cebu Pacific's order attests to the value it provides."

The purchase agreement to finalize this transaction is expected to be completed in the third quarter of the year.

About Cebu Pacific
Cebu Pacific (CEB), the Philippines' leading airline, entered the aviation industry on March 8, 1996 and pioneered the "low fare, great value" strategy. It has flown over 200 million passengers since inception. CEB offers the widest domestic network in the Philippines with 35 domestic destinations. It also currently operates flights to 25 international destinations, spanning across Asia, Australia, and the Middle East.

About Airbus
Airbus pioneers sustainable aerospace for a safe and united world. The Company constantly innovates to provide efficient and technologically -advanced solutions in aerospace, defence, and connected services. In commercial aircraft, Airbus designs and manufactures modern and fuel-efficient airliners and associated services. Airbus is also a European leader in space systems, defence and security. In helicopters, Airbus provides efficient civil and military rotorcraft solutions and services worldwide.

About Pratt & Whitney 
Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units. To learn more, visit www.prattwhitney.com.

About RTX
With more than 185,000 global employees, RTX pushes the limits of technology and science to redefine how we connect and protect our world. Through industry-leading businesses – Collins Aerospace, Pratt & Whitney, and Raytheon – we are advancing aviation, engineering integrated defense systems, and developing next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2023 sales of $69 billion, is headquartered in Arlington, Virginia.

For questions or to schedule an interview, please contact:

Cebu Pacific cebcorpcommteam@cebupacificair.com

Airbus media@airbus.com

Pratt & Whitney corporatepr@rtx.com

View original content:https://www.prnewswire.com/news-releases/cebu-pacific-celebrates-agreement-for-up-to-152-a321neo-aircraft-order-with-airbus-rtxs-pratt--whitney-302202659.html

SOURCE RTX

FAQ

How many aircraft did Cebu Pacific order from Airbus in July 2024?

Cebu Pacific signed an MOU for up to 152 A321neo aircraft, including firm orders for up to 102 A321neo and 50 A320neo family purchase rights.

What is the value of Cebu Pacific's aircraft order with Airbus and RTX's Pratt & Whitney?

The order is valued at approximately $24 billion (PHP 1.4 trillion) based on list prices.

Which engines will power Cebu Pacific's new Airbus aircraft?

Cebu Pacific has selected Pratt & Whitney GTF™ engines to power their future Airbus A321neo aircraft.

When is the purchase agreement for Cebu Pacific's Airbus order expected to be finalized?

The purchase agreement is expected to be completed in the third quarter of 2024.

How does Cebu Pacific's Airbus order impact Philippine aviation history?

This order represents the largest aircraft order in Philippine aviation history.