The Philippine carrier Cebu Pacific is set to purchase 152 Airbus planes worth P1.4 trillion.
This would be the largest purchase of aircraft in the country’s aviation history, Cebu Pacific said in a statement.
The Gokongwei-led carrier signed a binding Memorandum of Understanding with Airbus, covering the orders of 102 A321neo, and family purchase rights of 50 A320neo.
“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 officer Micharl Szucs said in a statement.
The airline also said it would choose Pratt & Whitney GTF™ engines to power the planes.
“When finalized, the deal will be a significant milestone for the local airline industry,” Szucs said.
The agreement is set to be finalized in the third quarter of the year, Cebu Pacific said.
