Philippines low-cost carrier Cebu Pacific has now taken delivery of one additional Airbus A330-900 aircraft from lessor AerDragon Aviation Leasing.
AerDragon Aviation Leasing Company Limited announced that it had acquired and delivered one A330-900 on a lease agreement to Cebu Pacific. The carrier is the Philippines’ largest airline and the leading low-cost carrier in the country. Nord LB and MUFG provided financing for the purchase.
“We are delighted to welcome Cebu Pacific to AerDragon’s growing list of customers and, with the A330-900, to support Cebu Pacific’ sustainability and eco-friendly commitment,” said Gang Li, AerDragon’s Chief Executive Officer.
“We look forward to building a long-lasting partnership with each other,” he said of the recently brokered agreement.
Return to profit
News of the new wide-body aircraft acquisition by the Philippines carrier comes as released performance figures for the first quarter of 2023 show Cebu Pacific returning to profitability.
Driven by rampant demand for air travel, the carrier has now showed the first profitable return since the start of the pandemic.
For the first three months of 2023, Cebu Pacific posted an operating profit of approximately Ps1.2 billion, or US$21.7 million.
This result compares with the loss of PS 5.3 billion reported for the same period in 2022.
As further testament to the reinvigorated demand for air travel, the carrier reported a passenger uplift of 4.8 million for quarter one 2023, which represents a doubling of passenger uplift for the comparable period last year.
The total number of flights was up by 94% year-on-year.
About Cebu Pacific
Cebu Air, Inc., operating as Cebu Pacific, is a low-cost airline based in the Philippines. It is the largest airline in the Philippines, and was founded in 1996; commencing operations as Cebu Air.
The airline is headquartered in Pasay City, Metro Manila, and operates flights to over 60 domestic and international destinations in Asia, Australia, and the Middle East.
Cebu Pacific has a modern fleet tabling 74 aircraft and boasts one of the youngest fleets in the world.
The airline currently operates a mix of Airbus A320, Airbus A321neo, and A330 aircraft. It also operates 17 ATR 42/72 regional turboprop aircraft.
The airline is known for its affordable fares and operates on a point-to-point basis, meaning that it does not offer connecting flights.
In addition to its passenger services, Cebu Pacific also operates a cargo service called Cebu Pacific Cargo, which offers air freight services to various destinations in the Philippines and internationally.
Cebu Pacific has won several awards for its service, including the World Travel Award for Asia’s Leading Low-Cost Airline in 2020.
The airline has also been recognized for its commitment to safety, having been awarded a seven-star rating by AirlineRatings.com.
AerDragon was established in October 2006 and has a current customer base covering China and the rest of Asia, Europe and Central and South America. It offers a range of services including aircraft leasing, trading, and asset management.