November 23, 2016— The Philippines’ leading airline, Cebu Pacific (PSE: CEB), signed an agreement with ITP (Industria de Turbo Propulsores) on November 22, 2016, for the full support of the PW127M engines which power the airline’s ATR72-500 and 72-600 fleets. In total, this agreement will cover 24 aircraft with an estimated duration of 12 years.
CEOs sealing the deal. Mataix and Gokongwei sign the contract, making the reinforcement of partnership official.
ITP has been providing maintenance, repair and overhaul (MRO) services to Cebu Pacific throughout the last seven years and this agreement signals the renewal of the partnership between both companies. ITP will be providing customer support from its representative office in Singapore, while the PW100 engines will be repaired at the company’s facilities in Ajalvir, Spain.
“CEB has worked with ITP over the last few years and this renewed agreement further strengthens our relationship. We believe that this partnership will enable us to further improve our aircraft reliability and performance while operating within one of the more challenging and demanding environments in Southeast Asia,”says Lance Gokongwei, President and CEO of Cebu Pacific.
From left to right: Jerremy Gonzales, Project Manager for EFM Powerplant of CEB; Jose Luis Zubeldia, Executive Director in Service Support of ITP; Ignacio Mataix Chief Executive Adviser of ITP; Lance Gokongwei (President and Chief Executive Officer of CEB; Ian Wolfe, Senior Adviser for Engineering and Maintenance of CEB; Michael Szucs, Chief Executive Adviser of CEB.
“This agreement shows the commitment of both companies to continue with the excellent working relationship developed over the last years supporting one of the largest and most demanding fleets in Asia Pacific. I am confident that we will continue to contribute to enhance Cebu Pacific’s fleet operating performance thanks to our high technical expertise and efficient customer service,” says Ignacio Mataix, CEO of ITP.
With over 138M passengers flown since inception in 1996, CEB continues to expand its network of36 domestic and 30 international destinations with over 100 routes spanning Asia, Australia, the Middle East, and USA. Its 58-strong fleet is comprised of six Airbus A319, 36 Airbus A320, six Airbus A330, eight ATR 72-500, and two ATR 72-600 aircraft. Between 2016 and 2021, CEB expects delivery of two more brand-new Airbus A330, 32 Airbus A321neo, and 14 ATR 72-600 aircraft.
Asia Pacific is known to have the largest number of Pratt & Whitney Canada’s PW100 engine operators, for which ITP is a Designated Overhaul Facility (DOF), covering all the large family models. The PW100 turboprop engine is the proven airline benchmark for low fuel consumption on the shorter routes of 350 miles or less, and is experiencing rapid growth among Asia’s regional airline operators.
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About ITP
ITP is currently the ninth largest aircraft engine and components company in the world by revenue. Ranking among the top one hundred companies in the aerospace industry (Top 100 Aerospace Companies, PwC and Flight International, 2015), the company has production centres in Spain, United Kingdom, Mexico, the United States, Malta and India with over 3,000 employees.