Cebu Pacific's $24B Airbus Jet Purchase

Cebu Pacific, owned by the Gokongwei family, has signed a binding agreement to purchase up to 152 Airbus aircraft for $24 billion, marking the largest aircraft order in Philippine aviation history. The deal includes firm orders for 102 A321neo jets and options for an additional 50 A320neo jets, powered by Pratt & Whitney GTF engines. The order aims to offer flexibility in fleet growth, allowing Cebu Pacific to adapt to market conditions. The agreement, expected to be finalized in the third quarter of 2024, plans to support the carrier's objective to double its passenger capacity by 2035 amid a post-pandemic travel surge. This significant purchase underscores Cebu Pacific's commitment to the Philippine aviation sector and its growth trajectory.