Philippines’ Cebu Pacific Inks Damp Lease Deal with Bulgaria Air

Cebu Pacific Air has entered into a damp lease agreement with Bulgaria Air to lease two A320-200s for a period of five months in 2024. The aircraft, LZ-FBD (msn 2596) and LZ-FBK (msn 7345), are expected to commence operations in Southeast Asia from mid-January. The primary focus of the short-term arrangement is to address increasing demand and capacity constraints, partly attributed to ongoing Pratt & Whitney engine issues leading to the grounding of two of Cebu Pacific’s A320-200Ns for maintenance. The deal aims to enhance the airline’s operational resilience and meet growing market requirements.

Cebu Pacific plans to deploy the leased A320s primarily on two domestic routes: Manila Ninoy Aquino to Cebu and Manila Ninoy Aquino to Davao. The move comes as the airline anticipates increasing its fleet to 92 aircraft by the end of 2024. Cebu Pacific is actively exploring opportunities to ensure operational flexibility and meet passenger demand. The airline has previously expressed intentions to place a significant order for 100-150 aircraft with either Boeing or Airbus.

As of now, Cebu Pacific operates 65 aircraft, including various A320 and A321 variants, along with A330 models. Despite facing challenges like engine issues and temporary groundings, the carrier is optimistic about exceeding pre-pandemic domestic operations by the end of December. International operations are also expected to achieve around 93% of pre-pandemic levels by the same period. The damp lease agreement with Bulgaria Air is part of Cebu Pacific’s strategy to enhance its fleet capabilities and support its growth trajectory.