Cebu Pacific widens fleet to 77 in 2023

MANILA, Philippines — Low-cost carrier Cebu Pacific achieved its target of acquiring 19 aircraft in 2023, allowing it to increase its fleet to 77, made up mostly of Airbus jets.

Before 2023 ended, Cebu Pacific received two Airbus A330neos and an A321neo, A320neo and A320ceo in November and December to complete its schedule of deliveries for the year.

With this, Cebu Pacific chief strategy officer Alexander Reyes said the airline enters 2024 with a fleet of 77 aircraft to serve the resurgent demand for air travel.

“Cebu Pacific achieved a historic milestone with a record number of aircraft deliveries last year. These additions to our fleet not only bolster our capacity to fly more passengers, but underscore our commitment to ensure that every Juan gets to fly to their destinations,” Reyes said.

Further, Cebu Pacific signed a damp lease with Bulgaria’s flag carrier Bulgaria Air for the rental of two aircraft from January to May. The units to be borrowed from Bulgaria Air will be based in Manila and will serve some of the flights to Cebu and Davao.

Cebu Pacific selected Bulgaria Air as its damp lease partner considering its history of completing similar deals with other airlines in the past.

Although rare in the Philippines, carriers turn to damp leasing to augment their fleet for specific periods, especially during peak seasons when air travel demand is at the highest.

Cebu Pacific is looking for ways to strengthen its fleet in 2024, as it will park at least 20 aircraft to make way for the repair of their jet engines.

For the year, Cebu Pacific is allocating P50 billion for capital expenditures, mainly for the purchase of new jets. The airline, owned by the Gokongweis, expects to ground 20 aircraft for about 240 days in compliance with the recall issued by aviation supplier Pratt & Whitney.

Cebu Pacific, however, is still keen on further expanding its footprint here and abroad, confident that the soaring demand for air travel will sustain its momentum. For 2024, Cebu Pacific eyes to grow its seats by up to eight percent, which will allow it to breach pre-pandemic numbers.

Cebu Pacific operates one of the youngest fleets in the aviation world composed of 35 A320s, 20 A321s, eight A330s and 14 turboprops.

The airline will place a firm order this year for the addition of as many as 150 aircraft from either Airbus or Boeing in a transaction that could likely hit $18 billion based on list prices.