CEBU PACIFIC announces 2 aircraft leases to further increase fleet size

THE Philippines' largest national flag carrier, Cebu Pacific, signed six-year operating lease agreements with Dublin-based RBS Aviation Capital for 2 brand-new Airbus A320 aircraft to be delivered in March 2012. This will be on top of CEB's 27 Airbus A320 aircraft purchase orders to be delivered from September 2011 until 2016, and 30 Airbus A321neo aircraft orders to be delivered from 2017-2021.

CEB recently signed a Memorandum of Understanding with Airbus for the purchase of the 30 A321neo aircraft, the largest A321neo aircraft order in the world. The A321neos will be a first of its type to operate in the Philippines, being a larger and longer-haul version of the familiar Airbus A320.

"These two leased A320 aircraft will further increase our fleet size, allowing us to offer lower fares and even more routes, destinations and flights to our guests. It will also enable us to continue expanding aggressively in the Asia-Pacific region, especially as we await delivery of more brand-new CEB aircraft," said CEB President and CEO Lance Gokongwei.

CEB currently operates 10 Airbus A319, 15 Airbus A320 and 8 ATR-72 500 aircraft. Of the 15 A320s, 9 are under operating lease agreements. RBS Aviation Capital ranks among the world's top five operating lessors by fleet value. Founded in 2001, it has 100 airline customers and 36 investor customers in 38 countries.  RBS Aviation Capital's CEO Peter Barrett said: "This is our first transaction in the Philippines, and our first lease agreement with Cebu Air. We look forward to new opportunities in the region and developing a key relationship with one of the country's leading domestic carriers."

CEB flies to the most extensive network within and from the Philippines, with 34 domestic and 16 international destinations including Osaka, Seoul (Incheon), Beijing, Jakarta, Bangkok, Hong Kong and Singapore. Since its inception in 1996, the Philippines' low-fare pioneer, CEB, had already flown 50 million passengers and counting. It broke local aviation records for passengers carried in a month in April and May of 2011, carrying more than 1 million passengers per month. This year, CEB will carry more than 12 million passengers.