Cebu Pacific has entered into a sale-and-leaseback transaction with lessor Avolon for four new Airbus A330neos.
The four new widebodies will be delivered between late-2024 and 2026, and will add to the low-cost operator’s existing fleet of Airbus jets on lease from Avolon, including five A320ceos, three A320neos and three A330neos.
The new A330neos will be deployed on flights within the Asia-Pacific and the Middle East, the airline states. According to Cirium fleets data, the airline has an in-service fleet of eight A330neos.
Avolon president Paul Geaney says: “With the continuing recovery of air travel in Asia we look forward to further opportunities to support customers on sale-and-leaseback transactions, or through our orderbook, as the availability of widebodies out to 2030 continues to tighten.”
The lessor says it continues to see strong demand for aircraft, noting that the widebody production recovery is lagging behind that of narrowbodies, leading to longer wait times.
