Cebu Pacific Signs P1.4T Purchase Agreement for 152 Aircraft
It's the largest aircraft order in Philippine aviation history.
(SPOT.ph) It looks like Cebu Pacific is committed to staying true to its slogan, “Let’s Fly Every Juan.” The airline company recently signed a P1.4 trillion purchase agreement with Airbus and Pratt & Whitney for 152 aircraft, marking the largest aircraft order in Philippine aviation history!
The deal includes firm orders for 102 A321neo aircraft, along with purchase rights for an additional 50 A320neo Family planes. Deliveries are expected to begin in 2029.
Also read: LOOK: This New Cebu Pacific Plane Uses Sustainable Fuel
Cebu Pacific's Landmark Agreement
Cebu Pacific’s Chairman, Lance Gokongwei, CEO Michael Szucs, and President and Chief Commercial Officer Xander Lao led the official announcement Thursday night at the Mariott Hotel Ballroom, highlighting a huge leap forward for the airline’s growth and future endeavors.
Speaking to business figures and members of the media, with the First Lady Liza Marcos in the audience along with DOT chief Cristina Frasco and Transportation Secretary Jaime Bautista, Gokongwei emphasized the collective effort behind this achievement, stating in his speech: “Success is not the work of a single person; it takes a dedicated team all moving together towards a singular purpose. And here we stand as the largest Philippine air carrier having made the largest aircraft purchase in our nation’s history. This incredible milestone would not have been possible without each and every one of you.”
Meanwhile, said Szucs: “This milestone signals our ongoing dedication to expanding air travel accessibility and affordability, while supporting the Philippines' broader economic growth and connectivity goals." He highlighted the importance of operational efficiency and sustainability to ensure the airline maintains high service standards while reducing its carbon footprint.
For its part, Airbus acknowledged Cebu Pacific’s continued trust in their products. “The A320 Family has supported Cebu Pacific’s domestic and short-haul international network growth over the last two decades,” said Benoît de Saint-Exupéry, executive vice president, sales of commercial aircraft business at Airbus. “The A321neo is highly regarded for its unparalleled economics, performance and fuel efficiency. We’re confident that these additional A321neo will contribute strongly to the all-Airbus operator’s next phase of expansion as one of Asia-Pacific’s leading low-cost carriers."
As of March 2024, Cebu Pacific’s fleet comprised 87 aircraft, including 20 Airbus CEO planes, 30 Airbus NEO planes, and 2 ATR 72-600 planes. The airline also has 22 outstanding orders from previous transactions, featuring A330s and narrow-body aircraft, which are anticipated to be delivered within the next two to three years.