Cebu Pacific bolsters fleet with damp lease agreement for two Airbus A320s – In anticipation of continued post-pandemic travel recovery, low-cost carrier Cebu Pacific Air has signed a damp lease agreement with Bulgaria Air for two Airbus A320ceo aircraft. This move reinforces the airline's commitment to accommodating the expected rise in passenger demand.

File photo from Cebu Pacific

The leased aircraft will operate domestic routes between Manila, Cebu, and Davao from January to May 2024, each carrying a capacity of 180 passengers.

“We continue to explore various opportunities to supplement the fleet and ensure operational resilience. This includes signing a damp lease agreement with Bulgaria Air for five months in 2024,” said Cebu Pacific president and chief commercial officer Xander Lao. 

“We expect to increase our fleet to 92 come end 2024. With this, we expect our year-on-year seat growth to be within 5% - 8% in 2024,” Lao added.

Damp leasing, also known as ACMI, involves one airline (lessor) providing an aircraft, crew, maintenance, and insurance (ACMI) to another airline (lessee).

A Bulgaria Air Airbus A320-200 aircraft.
Anna Zvereva, CC BY-SA 2.0, via Wikimedia Commons 

According to a press release from Cebu Pacific, Bulgaria Air, the national carrier of Bulgaria, has extensive experience in this type of agreement, partnering with airlines worldwide.

With the addition of these two leased aircraft, Cebu Pacific anticipates a 5 percent to 8 percent increase in seat capacity year-on-year for 2024, further solidifying its position as a leading player in the Philippine aviation industry.