Aviation finance powerhouse Avolon has finalised an agreement with Cebu Pacific, the renowned low-cost carrier from the Philippines, for the sale and leaseback of four brand-new Airbus A330neo aircraft.
The delivery schedule spans from late 2024 to 2026, with the first aircraft set for arrival later this year. These cutting-edge aircraft will play a pivotal role in supporting Cebu Pacific’s expansion efforts across its route network in Asia and the Middle East. Furthermore, they align with Cebu’s commitment to transitioning to a fuel-efficient, technologically advanced fleet, thereby reducing carbon emissions. Notably, compared to its predecessor, the A330ceo, the A330neo offers an extended range of over 13,300 km (7,200 nautical miles) and boasts a remarkable 25% reduction in fuel consumption and CO2 emissions.
This agreement solidifies the longstanding partnership between Cebu Pacific and Avolon, dating back to 2012. Currently, Avolon already leases 11 aircraft to the airline, comprising five A320ceos, three A320neos and three A330neos.
Avolon’s position in the aviation finance market remains robust, fuelled by strong customer demand and an impressive order book. The discrepancy between the production recovery of narrow-body and wide-body aircraft has led to a constrained market and prolonged lead times for twin-aisle planes.
