Cebu Pacific (CEB) has signed a binding Memorandum of Understanding (MOU) with Airbus for the purchase of up to 152 A321neo aircraft for USD 24 billion (PHP 1.4 trillion) based on list prices. CEB has selected Pratt & Whitney GTFTM engines to power the future aircraft. The MOU covers firm orders for up to 102 A321neo, plus 50 A320neo Family purchase rights.

The purchase agreement to finalize this transaction is expected to be completed in the third quarter of 2024.