BUDGET carrier Cebu Pacific on Tuesday said that it had signed a memorandum of understanding (MoU) with American aerospace manufacturer Pratt and Whitney for the purchase of aircraft engines.

Under the agreement, signed at the Singapore Airshow, Pratt and Whitney will provide Cebu Pacific with 15 narrowbody jet engines for Airbus A320/A321 aircraft that were ordered in 2019.

Pratt and Whitney will also provide Cebu Pacific with engine maintenance services.

"We appreciate Cebu Pacific's continued confidence in Pratt and Whitney since they initially selected the geared turbofan (GFT) engine in 2012," Pratt and Whitney President of Commercial Engines Rick Deurloo said.

"With deliveries for this most recent order starting in 2025, the GTF engine will provide even more fuel and carbon emissions savings," he added.

Cebu Pacific said the MoU would strengthen CEB's operational resilience as it explored opportunities to strengthen its position in Southeast Asia, China and Japan.

"This MoU aims to finalize our current order book and help secure our growth up to 2027," Cebu Pacific CEO Mike Szucs said.

"In doing so, it also clears the way for us to now focus on the longer-term growth...," he added.

Cebu Air Inc., operating as Cebu Pacific, saw its share price fall by P0.55 to P32.95 on Tuesday.