BUDGET AIRLINE Cebu Pacific will lease two of its aircraft to Saudi Arabia’s low-cost carrier Flyadeal as part of a new partnership between the two companies.
“With Cebu Pacific’s growing fleet, we seek to maximize the potential of our increased capacity through all months of the year. The utilization of our capacity by other carriers during our lean season is a way of achieving that,” Cebu Pacific Chief Executive Officer Michael B. Szucs said during a media briefing on Wednesday.
Under the arrangement, the Gokongwei-led carrier will lease two Airbus A320 aircraft to Flyadeal during its peak season from June to August, which coincides with Cebu Pacific’s lean period.
Cebu Pacific is also assessing the possibility of wet-leasing Flyadeal’s A320s during the high-demand winter season in Southeast Asia toward the end of the year.
“Cebu Pacific’s lean season is our peak season. Their low season is really our high, so that is the original premise [of this agreement],” Flyadeal Chief Executive Officer Steven Greenway said.
Mr. Szucs said the initial flights under the arrangement will begin in June and run until August, after which the aircraft will be returned to Cebu Pacific.
“This was the starting point for wide-ranging commercial discussions covering a broad range of areas including more immediate needs of wet-leasing aircraft for Flyadeal’s busy upcoming summer season,” Mr. Greenway said.
In addition to the aircraft, Cebu Pacific will also deploy its pilots, cabin crew, and maintenance personnel as part of the agreement.
“We have to operate it with the cabin crew. Our crew will be operating throughout,” Mr. Szucs said.
In October 2024, Cebu Pacific finalized a P1.4-trillion ($24 billion) order with Airbus SE for up to 152 aircraft.
The airline received 17 aircraft deliveries in 2024, enabling the expansion and development of its domestic hubs.
Cebu Pacific expects seven more deliveries this year, after receiving its first aircraft for 2025 in March. The carrier is projected to operate a fleet of 100 aircraft by yearend.
As of May, Cebu Pacific flies to 37 domestic and 26 international destinations across Asia, Australia, and the Middle East. — Ashley Erika O. Jose