MANILA — In a landmark deal for Philippine aviation, Cebu Pacific (CEB) has announced the purchase of 152 aircraft from Airbus, totaling approximately PHP1.4 trillion (USD24 billion). This historic acquisition represents the largest aircraft order in the nation's history, underscoring significant confidence in the local economy and the aviation industry's growth prospects.
According to Philippines news Agency, the memorandum of understanding signed with Airbus includes options to adjust the order between the A321neo and A320neo models, offering CEB flexibility in response to changing market conditions. The deal, expected to be finalized in the third quarter of this year, also includes the selection of Pratt and Whitney GTF engines to power the new aircraft. Szucs emphasized that this order is a bold move reflecting the airline’s strong belief in the Philippine economic trajectory.
President Ferdinand R. Marcos Jr. expressed his support for CEB's expansion during a courtesy call by the airline's executives at Malacañang. He highlighted the order as a positive indicator for the Philippine economy, suggesting it demonstrates potential transformative impacts on the country’s economic landscape. “It gives us great deal of encouragement that if we get it right, we can actually get something done and make the transformation of our economy. Make it happen,” said President Marcos, citing the initiative as a catalyst for broader economic progress.
The purchase not only represents a significant investment in Cebu Pacific’s growth but also reaffirms its leadership in the domestic market, where it currently holds a 54 percent share. The airline’s robust performance includes a PHP25.3 billion revenue in the first quarter of 2024, with total assets valued at about PHP200 billion. Earlier this year, CEB was recognized as the Best Airline at the Routes Asia 2024 Awards, a testament to its ongoing contributions to regional airport and destination marketing.
This expansion will likely enhance CEB's operational capabilities significantly, enabling it to maintain its competitive edge in the industry and expand its services to 35 domestic and 25 international destinations.