Philippine low-cost carrier Cebu Pacific said it will buy up to 152 Airbus planes worth PHP 1.4 trillion ($24 billion), in a deal described as the largest aircraft order in the country’s aviation history.
The Cebu-based airline’s agreement with Airbus includes firm orders for 102 A321neo aircraft, along with purchase rights for an additional 50 A320neo family aircraft.
Known for its fuel efficiency and green credentials, the A320neo delivers 20% fuel savings and CO2 reduction compared to previous-generation Airbus aircraft.
Pratt & Whitney GTF engines have been selected by Cebu Pacific to power the new planes.
“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,” Cebu Pacific Chief Executive Michael Szucs said in a statement.
The airline said the transaction would be finalized in the third quarter of 2024.
In April 2024, Cebu Pacific unveiled a brand-new Airbus A320neo, the fourth new aircraft delivery for the airline. The carrier also announced its plans to operate an all-neo fleet by 2028.