Cebu Pacific has entered into a sale-and-leaseback agreement with Avolon, a leading aircraft leasing company, for four brand-new Airbus A330neo aircraft.
Slated for delivery between late 2024 and 2026, these four widebody jets are poised to join Cebu Pacific’s already robust lineup of Airbus aircraft leased from Avolon. This fleet includes five A320ceos, three A320neos, and three A330neos. The addition of the new A330neos is a clear indicator of Cebu Pacific’s forward-thinking approach, preparing to meet the increasing demand for air travel in Asia and beyond.
These state-of-the-art aircraft will primarily serve routes within the Asia-Pacific and the Middle East. With eight A330neos already in service, according to Cirium fleets data, Cebu Pacific is set to substantially increase its operational capacity, offering passengers more options for regional and long-haul travel. This expansion is perfectly timed to capitalize on the recovering travel market, as more travelers seek affordable and reliable flying options.
A Vote of Confidence in Air Travel’s Recovery
Paul Geaney, the president of Avolon, expressed optimism about the resurgence of air travel in Asia, emphasizing the importance of sale-and-leaseback transactions and Avolon’s extensive order book in supporting airlines like Cebu Pacific. He highlighted the tightening availability of widebody aircraft up to 2030, a trend that underscores the growing competition and demand in the aviation industry.
Avolon’s continued strong demand for aircraft, particularly in a market where widebody production is trailing the recovery pace of narrowbodies, indicates a strategic bottleneck. This situation results in longer waiting periods for airlines wishing to expand their fleets with widebody jets, making timely agreements like the one between Cebu Pacific and Avolon all the more critical.
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