CEB signs P1.4T aircraft purchase

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CEBU Pacific (CEB) has officially signed the contract with Airbus and Pratt & Whitney for the purchase of up to 152 aircraft worth $24 billion or P1.4 trillion.

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In a statement, CEB said it held two separate signing ceremonies with Airbus and Pratt & Whitney for a binding memorandum of understanding which covers firm orders for up to 102 A321neo, plus 50 A320neo family purchase rights.

CEB has selected Pratt & Whitney GTF engines to power its future aircraft.

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The order is designed to give the airline the flexibility to choose between the A321neo and A320neo aircraft as needed, helping it adapt to market changes, said Michael Szucs, CEB chief executive officer.

“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,” Szucs added.

The purchase agreement to finalize this transaction is expected to be completed in the third quarter of the year. Airbus assured its latest aircraft will allow CEB to reduce operating costs and continue to offer competitive fares.

“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 Benoí®t 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.

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