The aircraft spare parts shortage, particularly the Pratt & Whitney GTF issue, has forced airlines to implement drastic measures to prevent capacity cuts and disruptions to their recovery efforts. In response to the demand, airlines continue to lease additional aircraft. Cebu Pacific Air has signed a damp lease agreement with Bulgaria Air to lease two Airbus A320ceo aircraft for five months in 2024. This move comes in response to growing demand and temporary capacity restrictions faced by the airline.
The leased aircraft will primarily be used to serve two key domestic routes: Manila Ninoy Aquino International Airport to Cebu and Davao. This will help Cebu Pacific meet the increasing passenger demand on these routes and ensure operational resilience.
Short-term Solution for Long-term Growth
Cebu Pacific President and Chief Commercial Officer Xander Lao explained that the damp lease agreement with Bulgaria Air is a short-term solution to address immediate capacity needs. The airline is also planning to place a significant order for new aircraft in the near future, with a target of 100-150 planes.
Currently, Cebu Pacific operates a fleet of 65 aircraft, with 11 temporarily out of service. By the end of 2024, the airline expects to increase its fleet size to 92 aircraft. This expansion will support its planned seat growth of 5-8% year-on-year in 2024.
Lao also expressed optimism about the airline’s recovery. He expects domestic operations to surpass pre-pandemic levels by the end of December 2023, with international operations reaching around 93% of pre-pandemic levels.
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