By Kimberley Kao


Asian budget airline operator Cebu Air signed a preliminary deal to buy up to 152 Airbus jets valued at $24 billion in what it said was the largest aircraft order in Philippine history.

The Philippine airline, which operates under the name Cebu Pacific, said Tuesday that the deal covered firm orders to buy up to 102 A321neo jets, plus purchase rights for 50 A320neo jets.

"The order is designed to provide Cebu Pacific with maximum flexibility to adapt fleet growth to market conditions, with the ability to switch between" the two jet models, Chief Executive Michael Szucs said.

Cebu Pacific said the deal is expected to be finalized in the third quarter.


Write to Kimberley Kao at kimberley.kao@wsj.com


(END) Dow Jones Newswires

07-02-24 0539ET