Avolon Sale & Leaseback Deal Revealed with Cebu Pacific

Cebu Pacific A330neo Landing
Photo Credit: Hetzark Segundo RPLL, CC BY-SA 4.0 , via Wikimedia Commons

This week, Avolon has announced that they have agreed a sale and leaseback with the Philippines low-cost carrier, Cebu Pacific.

This article will cover the details surrounding Avolon’s latest sale and leaseback agreement, this time with Cebu Pacific.

Avolon Sale & Leaseback – A330neos for Cebu Pacific

Photo Credit: John Andrei Policarpio, CC BY-SA 4.0 https://creativecommons.org/licenses/by-sa/4.0, via Wikimedia Commons

As part of this latest agreement with Avolon, Cebu Pacific has agreed the sale and leaseback of four Airbus A330neos.

The first of these four Airbus A330neos is due for delivery in late 2024 with the final of the four expected in 2026.

With Avolon, Cebu Pacific has been a customer of theirs since 2012, operating 11 aircraft on lease. Those aircraft are, five Airbus A320ceos, three Airbus A320neos and three Airbus A330neos.

However, this new four Airbus A330neos will fuel the carrier’s plans to expand its service throughout Asia and the Middle East.

The Philippines operator’s Airbus A330neos are very high density for seats, carrying up to 459 passengers in an all-Economy configuration. Whereas, their Airbus A330-300 has a total of 436 all-Economy seats.

For their narrowbody fleet, their ATR 72-600s have 78 seats, their Airbus A320ceos have 180 seats. Their Airbus A320neos have 188 seats, their Airbus A321ceos have 230 seats and their Airbus A321neos have 236 seats.

Current Fleet

Cebu Pacific currently has 84 aircraft, and their fleet is broken down as follows –

  • Two ATR 72-500 Freighters
  • 15 ATR 72-600s
  • 19 Airbus A320ceos
  • 18 Airbus A320neos
  • Seven Airbus A321ceos
  • 14 Airbus A321neos
  • One Airbus A330-300
  • Eight Airbus A330-900neos

Senior Comments

Commenting on their latest agreement with Cebu Pacific, Avolon’s President and Chief Commercial Officer, Paul Geaney, has said, “The Cebu team is doing a fantastic job expanding the airline’s operations and we are delighted to use our balance sheet to support the addition of four new A330neos to their fleet.”

“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.”

Adding to Geaney’s comments, Chief Strategy Officer for Cebu Pacific, Alex Reyes, says, “These new A330neos support our goal of transitioning to a more fuel-efficient fleet and will support our continued expansion of routes both in and to the Middle East.”

“We appreciate Avolon’s continued support of our growth strategy as we further strengthen our position as one of Asia Pacific’s leading low-cost carriers.”

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By Jamie Clarke 3 Min Read
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