08:55 AM EDT, 07/22/2024 (MT Newswires) -- RTX (RTX) said Monday that Philippine airline Cebu Pacific has signed a memorandum of understanding with its Pratt & Whitney unit and Airbus to buy up to 152 aircraft, valued at about $24 billion at list prices.

The company said the agreement includes firm orders for up to 102 A321neo planes and purchase rights for 50 A320neo aircraft, with Pratt & Whitney supplying the engines.

The deal allows Cebu Pacific flexibility in choosing between the A321neo and A320neo models based on market conditions, Cebu Chief Executive Michael Szucs said in prepared remarks.

The final purchase agreement is expected to be finalized in Q3, RTX said.

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