Latest news with #MikeSzucs
Associated Press
16-06-2025
- Business
- Associated Press
RTX's Pratt & Whitney and Cebu Pacific sign long-term engine maintenance deal
GTF maintenance agreement supports airline's long-term fleet plans PARIS, June 16, 2025 /PRNewswire/ -- Pratt & Whitney, an RTX (NYSE: RTX) business, and Cebu Pacific (CEB) have signed a long-term EngineWise™ comprehensive maintenance services agreement for the airline's GTF engine fleet. This agreement aligns Cebu Pacific's maintenance costs to the utilization of the airline's engines. 'The agreement reflects our ongoing collaboration with Cebu Pacific to optimize the reliability and efficiency of their fleet,' said Rick Deurloo, president of Commercial Engines at Pratt & Whitney. 'It underscores our commitment to enabling our customer's network expansion and growth.' The 12-year agreement provides comprehensive support for the GTF engines Cebu Pacific ordered in 2024. This includes the historic order of engines for up to 152 A321neo aircraft announced in July 2024 along with the engines for the 15 A320neo family aircraft that was announced in February 2024. Through Pratt & Whitney's fleet management programs, the airline gains access to technical expertise, fleet data, and business intelligence – ensuring greater transparency and predictability in maintenance planning. 'Maintaining the performance and efficiency of our fleet is a top priority,' said Mike Szucs, chief executive officer of Cebu Pacific. 'The GTF engine has enabled up to 20% reduction in fuel burn compared to previous-generation engines – translating into meaningful savings in fuel efficiency, lower emissions and reduced operating costs. This agreement strengthens our ability to scale sustainably while continuing to deliver on our commitments to passengers.' Currently, Cebu Pacific operates 56 Pratt & Whitney powered aircraft. Prior to GTF engines, Pratt & Whitney supplied JT8D engines for the airline's DC-9 aircraft fleet. Pratt & Whitney and Cebu Pacific's relationship extends back to the 1990s. About Cebu Pacific Cebu Pacific is the Philippines' largest carrier both domestically and internationally with 37 domestic destinations, with hubs in Manila, Cebu, Clark, Iloilo, and Davao. It also currently operates flights to 26 international destinations, spanning across Asia, Australia, and the Middle East. Cebu Pacific currently operates a fleet of 98 aircraft—the youngest jet fleet in the Philippines—including a diversified mix of Airbus A320, A321, A330, and ATR aircraft. For questions or to schedule an interview, please contact [email protected]. About Pratt & Whitney Pratt & Whitney, an RTX business, is a world leader in the design, manufacture and service of aircraft engines and auxiliary power units for military, commercial and civil aviation customers. Since 1925, our engineers have pioneered the development of revolutionary propulsion technologies, and today we support more than 90,000 engines in service through our global network of maintenance, repair and overhaul facilities. About RTX RTX is the world's largest aerospace and defense company. With more than 185,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. Through industry-leading businesses – Collins Aerospace, Pratt & Whitney and Raytheon – we are advancing aviation, engineering integrated defense systems for operational success, and developing next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2024 sales of more than $80 billion, is headquartered in Arlington, Virginia. For questions or to schedule an interview, please contact [email protected]. View original content: SOURCE RTX
GMA Network
28-05-2025
- Business
- GMA Network
Cebu Pacific leasing aircraft to Saudia's flyadeal
Cebu Pacific CEO Mike Szucs and flyadeal CEO Steven Greenway sign the joint strategic commercial initiatives agreement in Manila on Wednesday, May 28, 2025. (Photo by Ted Cordero) Gokongwei-led budget carrier Cebu Pacific has entered into a strategic partnership with Saudi flag carrier Saudia's low-cost airline flyadeal. At a ceremony in Parañaque City on Wednesday, Cebu Pacific CEO Mike Szucs and flyadeal CEO Steven Greenway signed a memorandum of understanding (MOU) for both airlines to 'explore joint strategic commercial initiatives.' The initial phase of the MOU covers a wet-lease arrangement between Cebu Pacific and flyadeal, in which the Saudi Arabian low-cost carrier will lease two aircraft —Airbus A320– from the Philippine budget carrier for the summer peak flying season in the Kingdom of Saudi Arabia next month. The partnership would also involve joint commercial cooperation and support in maintenance and engineering, according to Szucs. Consequently, Cebu Pacific is also eyeing wet-leasing flyadeal's A320 aircraft to augment its fleet during the busy winter period in Southeast Asia towards the end of the year. 'With Cebu Pacific's growing fleet, we seek to maximize the potential of our increased capacity through all months of the year. The utilization of our capacity by other carriers during our lean season is a way of achieving that,' said Szucs. 'This partnership with flyadeal highlights Cebu Pacific's growing capability to support international carriers through wet leasing and broader operational collaboration. It diversifies our revenue streams and further expands Cebu Pacific's presence beyond the Asia Pacific region,' he added. Greenway said the agreement ''marks flyadeal's first ever strategic airline partnership.' 'This was the starting point for wide-ranging commercial discussions covering a broad range of areas, including more immediate needs of wet-leasing aircraft for flyadeal's busy upcoming summer season. It's a win-win situation all around to bring in Cebu Pacific aircraft during our peak period and vice versa for Mike and his team to explore taking our aircraft for their winter peak later this year,'' he said. — VBL, GMA Integrated News
Bloomberg
18-02-2025
- Business
- Bloomberg
Cebu Air Anticipates 'Continued Strong Growth' in 2025
Cebu Pacific Air CEO Mike Szucs says he is 'anticipating continued strong growth in 2025'. He speaks with Avril Hong and Haslinda Amin from the sidelines of Aviation Festival Asia 2025. (Source: Bloomberg)
