Cebu Pacific (CEB) is eyeing to acquire new aircraft from Airbus, its officials told President Ferdinand Marcos Jr. during their courtesy call in Malacañang on Tuesday, July 2.

The airline company signed a binding memorandum of understanding with Airbus for the purchase of up to 152 planes for US$24 billion or  P1.4  trillion.

Speaking to Marcos Jr. CEB Chief Executive Officer Michael Szucs said the order is an indication of the company’s confidence in the Philippine economy.

“This is an enormously a bold step. We wouldn’t be doing it without having confidence in the direction the country is going,” according to Szucs.

For his part, the President said their plan “is a very good sign” for the local economy.

“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,” he stated.

CEB has selected Pratt & Whitney GTF engines to power the aircraft. The MOU covers orders for up to 102 A321neo and 50 A320neo Family purchase rights.

CEB was awarded Best Airline at the Routes Asia 2024 Awards in February for its contributions to airport and destination marketing in the Asia Pacific region.IMT