LOW cost airline Cebu Pacific (CEB) has just made the largest aircraft order in Philippine aviation history, purchasing 152 aircraft from Airbus.
In a disclosure on Tuesday, the airline said it signed a memorandum of understanding with Airbus for the aircraft order worth PHP1.4 trillion (USD24 billion).
“The order is designed to provide CEB with maximum flexibility to adapt fleet growth to market conditions, with the ability to switch between the A321neo and A320neo,” CEB chief executive officer Michael Szucs said in a statement.
The Gokongwei-led airline’s order is for up to 102 A321neo and 50 A320neo.
CEB has also selected Pratt & Whitney GTF engines to power the future aircraft.
Meanwhile, the purchase agreement is expected to be completed in the third quarter this year.
President Ferdinand R. Marcos Jr. welcomed CEB’s multi-billion-dollar plan to acquire new aircraft from Airbus.
“It gives us great deal of encouragement that if we get it right, we can actually get something done and make the transformation of our economy. Make it happen,” Marcos said.
