Philippine airline Cebu Pacific announced plans to acquire up to 152 Airbus aircraft in a deal valued at $24 billion, marking the largest aircraft order in the nation’s aviation history.
The agreement, according to a PhilsStar Global report, includes firm orders for 102 A321neo aircraft and purchase rights for an additional 50 A320neo planes.
Cebu Pacific’s CEO Michael Szucs highlighted the flexibility this deal offers, allowing the airline to adjust fleet growth based on market conditions.
The airline also confirmed it would use Pratt & Whitney engines, despite previous issues with the manufacturer’s engines.
The deal, encapsulated in a binding memorandum of understanding with Airbus, is set to be finalized in the third quarter of this year.
