Cebu Pacific signs deal to acquire 152 aircraft | ABS-CBN
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Cebu Pacific signs deal to acquire 152 aircraft
Cebu Pacific signs deal to acquire 152 aircraft
Cebu Pacific Welcomes New A321neo, 7th Aircraft Delivery for 2024. Handout/Cebu Pacific
Cebu Pacific Welcomes New A321neo, 7th Aircraft Delivery for 2024. Handout/Cebu PacificMANILA -- Budget carrier Cebu Pacific has signed a landmark aircraft purchase agreement with Airbus and Pratt & Whitney.
MANILA -- Budget carrier Cebu Pacific has signed a landmark aircraft purchase agreement with Airbus and Pratt & Whitney.
The deal -- considered the biggest in Philippine aviation history -- is for up to 152 aircraft valued at $24 billion or ₱1.4 trillion.
The deal -- considered the biggest in Philippine aviation history -- is for up to 152 aircraft valued at $24 billion or ₱1.4 trillion.
Cebu Pacific Chief Executive Officer Michael Szucs said the big aircraft order shows their confidence in the Philippine economy and their commitment to expanding air travel accessibility and affordability.
Cebu Pacific Chief Executive Officer Michael Szucs said the big aircraft order shows their confidence in the Philippine economy and their commitment to expanding air travel accessibility and affordability.
"This agreement with Airbus and Pratt & Whitney is far more than commercial transactions. They represent a strategic investment in our future. A future defined by modernization, efficiency, expansion, and an enhanced travel experience for our passengers," said Szucs.
"This agreement with Airbus and Pratt & Whitney is far more than commercial transactions. They represent a strategic investment in our future. A future defined by modernization, efficiency, expansion, and an enhanced travel experience for our passengers," said Szucs.
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The deal covers firm orders for up to 102 A321neo aircraft, plus up to 50 A320neo purchase rights. The minimum commitment is for 70 narrow-body aircraft. First delivery from this deal is expected in 2029.
The deal covers firm orders for up to 102 A321neo aircraft, plus up to 50 A320neo purchase rights. The minimum commitment is for 70 narrow-body aircraft. First delivery from this deal is expected in 2029.
“We are confident that this additional A320 will contribute strongly to your next phase of expansion as Asia Pacific’s leading low cost airline,” said Benoit de Saint-Exupery, Airbus Executive Vice President for Sales of the Commercial Aircraft Business.
“We are confident that this additional A320 will contribute strongly to your next phase of expansion as Asia Pacific’s leading low cost airline,” said Benoit de Saint-Exupery, Airbus Executive Vice President for Sales of the Commercial Aircraft Business.
“The latest order demonstrates the growing opportunities for aviation in the Philippines and the larger Asia Pacific region,” added Rick Deurloo, Pratt & Whitney President of Commercial Engines.
“The latest order demonstrates the growing opportunities for aviation in the Philippines and the larger Asia Pacific region,” added Rick Deurloo, Pratt & Whitney President of Commercial Engines.
The airline expects to receive new planes from this order beginning 2029 or in time for the possible opening of the Bulacan airport, as well as the continued rehabilitation of the Ninoy Aquino International Airport. The carrier is still expecting the delivery of 22 aircraft in the next two years from previous orders.
The airline expects to receive new planes from this order beginning 2029 or in time for the possible opening of the Bulacan airport, as well as the continued rehabilitation of the Ninoy Aquino International Airport. The carrier is still expecting the delivery of 22 aircraft in the next two years from previous orders.
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