The aviation industry in the Philippines is ready to welcome a new era of growth and expansion with Cebu Pacific (PSE: CEB), the leading carrier of the country, launching its first flight under a damp lease agreement with Bulgaria Air. This historic occasion, which took place on January 14, marks a significant milestone for the airline as it strengthens its capacity to cater to the growing demand for air travel.
The A320ceo aircraft, which Cebu Pacific acquired under this agreement, arrived from Sofia, Bulgaria at the Ninoy Aquino International Airport in Manila on January 3, with a second one following suit on January 7. These aircraft are set to boost the airline’s operations, providing a much-needed lift in its capacity.
These two 180-seater aircraft are scheduled to fly twice daily between Manila and Cebu, and four times daily between Manila and Davao from January to March 2024. The introduction of these new aircraft to Cebu Pacific's fleet is an exciting development, one that will undoubtedly enhance the airline's ability to provide convenient, reliable, and affordable air travel.
The addition of these aircraft from Bulgaria Air is part of Cebu Pacific’s broader strategy to strengthen operational resiliency. As Xander Lao, CEB President and Chief Commercial Officer, rightly said, "We welcome these two aircraft from Bulgaria Air into our fleet, which is just one of the various measures we are undertaking to strengthen our operational resiliency.”
The damp lease agreement, also known as ACMI (Aircraft, Crew, Maintenance, and Insurance), is a common practice in the aviation industry. Bulgaria Air, the national carrier of the Republic of Bulgaria, holds years of experience in such agreements, having partnered with various airlines around the world.
Cebu Pacific’s fleet expansion does not stop with these two aircraft. The airline is set to operate a record number of 76 aircraft in its commercial fleet at the start of the year, leading to wider domestic coverage and more affordable airfares for the public.
The airline has been on a steady growth trajectory, accepting delivery of 19 aircraft in 2023. This aggressive expansion plan is set to continue, with the airline's fleet size expected to increase to 92 by the end of 2024.
Cebu Pacific currently flies to 35 domestic and 25 international destinations. These include various locations across Asia, Australia, and the Middle East, providing a comprehensive coverage that caters to the diverse needs of its passengers.
Cebu Pacific's commitment to providing affordable, reliable, and convenient air travel to 'every Juan' is a testament to the airline's dedication to serving the public. The addition of the new aircraft strengthens this commitment, promising an enhanced travel experience for all.
The partnership between Cebu Pacific and Bulgaria Air is a promising one that signals a bright future for the airline industry in the Philippines. With the damp lease agreement in place, Cebu Pacific is all set to soar to new heights.
With the debut of its first flight under the Bulgaria Air damp lease agreement, Cebu Pacific is paving the way for a future where air travel is not just a luxury, but a convenient and affordable means of transportation for everyone. This is a future we all look forward to.
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