Cebu Pacific Air agrees to buy 152 single-aisle jets from Airbus, marking the largest jet purchase in the Philippines' history.
The agreement includes 102 A321neo jets with options for an additional 50 planes.
Cebu's CEO, Mike Szucs, hails the deal as a significant milestone for the local airline industry.
Although the deal is valued at $24 billion at list price, airlines often receive large discounts, so the final price will be lower.
The A321neo is Airbus’s best-selling plane, with a backlog extending well into the next decade.
Despite considering Boeing, Cebu Pacific opts for Airbus, solidifying its fleet with the European manufacturer
Cebu picks Pratt & Whitney GTF engines to power the new fleet, despite ongoing repairs for potential flaws.
The low-cost airline is controlled by Lance Gokongwei and his family’s JG Summit Holdings Inc., driving the company’s aggressive expansion strategy