Avolon agrees sale and leaseback aircraft deal with Cebu Pacific

Monday, 15 Apr, 2024 0

Leading aircraft leasing firm Avolon recently agreed the sale and leaseback deal for four new Airbus A330neo aircraft with Cebu Pacific

The first aircraft is scheduled for delivery in late 2024 to the Philippines low-cost carrier.

The final delivery is planned in 2026.

These new aircraft will support Cebu’s expansion of its route network in Asia and the Middle East.

The A330neo has an increased range of over 13,300km (7,200 nautical miles) and 25% lower fuel consumption compared to the older version.

Cebu has been an Avolon customer since 2012 and Avolon already has 11 aircraft on lease to the airline.

These are five A320ceos, three A320neos, and three A330neos.

According to Avolon’s 2024 Outlook: New Horizons paper, remaining delivery slots from manufacturers for widebody aircraft will be sold out to 2030 by the end of this year.

Paul Geaney, Chief Commercial Officer, Avolon said: “We are delighted to use our balance sheet to support the addition of four new A330neos to Cebu Pacific’s fleet.”

TravelMole Editorial Team

Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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