Largest aircraft order in Philippine aviation
history
LONDON, July 22,
2024 /PRNewswire/ -- Farnborough Air Show – Cebu
Pacific (CEB), Airbus, and Pratt & Whitney, held an official
ceremony to commemorate a memorandum of understanding (MOU) signed
for CEB's purchase of up to 152 A321neo aircraft for estimated USD
$24 billion (PHP 1.4 trillion) based on list prices, the
largest aircraft order in Philippine aviation history. Pratt &
Whitney is an RTX (NYSE: RTX) business.
The binding MOU covers firm orders for up to 102 A321neo, plus
50 A320neo family purchase rights. CEB has selected Pratt &
Whitney GTF™ engines to power the future aircraft.
"The order is designed to give Cebu Pacific the flexibility to
choose between the A321neo and A320neo aircraft as needed, helping
us adapt to market changes," said Michael
Szucs, chief executive officer of CEB. "This deal is a
significant milestone in our ongoing mission to make air travel
more accessible and affordable for everyone while supporting the
Philippine growth story."
Airbus said the MOU is a testament to the airline's confidence
in its products and a positive signal for the aviation industry's
recovery.
"We thank Cebu Pacific for its ongoing confidence in Airbus and
its products. These latest generation aircraft will enable the
carrier to reduce its operating costs and continue to offer low
fares in a competitive market environment. We look forward to
continuing to work with the airline as it builds on its position as
one of the leading low-cost carriers in the Asia-Pacific region," said Benoît de
Saint-Exupéry, executive vice president sales of Commercial
Aircraft at Airbus.
Pratt & Whitney expressed gratitude for CEB's continued
confidence in the GTF engine, which the airline initially selected
in 2012.
"This latest order demonstrates the growing opportunities for
aviation in the Philippines and
the larger Asia Pacific region,"
said Rick Deurloo, president of
Commercial Engines at Pratt & Whitney. "Our GTF engine will
power this growth while delivering industry-leading fuel efficiency
and sustainability benefits for single-aisle aircraft. Cebu
Pacific's order attests to the value it provides."
The purchase agreement to finalize this transaction is expected
to be completed in the third quarter of the year.
About Cebu Pacific
Cebu Pacific (CEB), the Philippines' leading airline, entered the
aviation industry on March 8, 1996
and pioneered the "low fare, great value" strategy. It has flown
over 200 million passengers since inception. CEB offers the widest
domestic network in the
Philippines with 35 domestic destinations. It also currently
operates flights to 25 international destinations, spanning across
Asia, Australia, and the Middle East.
About Airbus
Airbus pioneers sustainable aerospace for
a safe and united world. The Company constantly innovates to
provide efficient and technologically -advanced solutions in
aerospace, defence, and connected services. In commercial aircraft,
Airbus designs and manufactures modern and fuel-efficient airliners
and associated services. Airbus is also a European leader in space
systems, defence and security. In helicopters, Airbus provides
efficient civil and military rotorcraft solutions and services
worldwide.
About Pratt & Whitney
Pratt & Whitney is
a world leader in the design, manufacture and service of aircraft
engines and auxiliary power units. To learn more, visit
www.prattwhitney.com.
About RTX
With more than 185,000 global employees, RTX
pushes the limits of technology and science to redefine how we
connect and protect our world. Through industry-leading businesses
– Collins Aerospace, Pratt & Whitney, and Raytheon – we are
advancing aviation, engineering integrated defense systems, and
developing next-generation technology solutions and manufacturing
to help global customers address their most critical challenges.
The company, with 2023 sales of $69
billion, is headquartered in Arlington, Virginia.
For questions or to schedule an interview, please
contact:
Cebu Pacific cebcorpcommteam@cebupacificair.com
Airbus media@airbus.com
Pratt & Whitney corporatepr@rtx.com
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SOURCE RTX