Cebu Pacific Air: new lease agreements
The Philippines’ carrier, Cebu Pacific Air (PSE: CEB) recently signed operating lease agreements on two brand-new Airbus A330-300 aircraft with Intrepid Aviation, a US-based commercial aircraft less
The Philippines’ carrier, Cebu Pacific Air (PSE: CEB) recently signed operating lease agreements on two brand-new Airbus A330-300 aircraft with Intrepid Aviation, a US-based commercial aircraft lessor to passenger and freight airline operators worldwide.
Cebu Pacific Air is currently the largest airline in the Philippines.
CEB’s additional Airbus A330-300 aircraft will be delivered from 2014 to 2015, and will be powered by Rolls-Royce Trent 772B engines. By 2015, CEB will operate a total of six brand-new Airbus A330-300 aircraft.
CEB earlier announced it will launch its long-haul operations with direct daily Manila-Dubai services on October 7, 2013. The Airbus A330-300 aircraft will allow it to fly to farther destinations, beyond the range of CEB’s Airbus A320 fleet.
“With our A330 fleet strengthened by this lease agreement, we will continue exploring other regions we can serve, such as the Middle East, Australia, parts of Europe and the US. These additional wide-body aircraft will allow us to offer Cebu Pacific’s trademark lowest fares to even more passengers,” said CEB General Manager for the Long-Haul Division Alex Reyes.
Since its inception in 1996, CEB has flown over 75 million passengers. It also posted a good track record in stimulating short-haul travel of passengers around Asia, with an 11% system-wide passenger growth in 2012.
CEB currently offers 22 international destinations, namely Bali, Bangkok, Beijing, Brunei, Busan, Dubai, Guangzhou, Hanoi, Ho Chi Minh, Hong Kong, Incheon (Seoul), Jakarta, Kota Kinabalu, Kuala Lumpur, Macau, Osaka, Phuket, Shanghai, Siem Reap, Singapore, Taipei and Xiamen. It also operates the most extensive network in the Philippines with 34 domestic destinations and hubs in Manila, Cebu, Clark, Kalibo, Iloilo and Davao.