Jackson Square Aviation (JSA), a leading US-based aircraft lessor, has announced the completion of a sale and leaseback agreement with Cebu Pacific Air, the Philippines’ largest low-cost carrier. The deal includes one A330neo and seven A321 aircraft, finalized in December 2024. Additionally, a second A330neo is scheduled for delivery in the first half of 2025.
Cebu Pacific (Philippines) has successfully closed its first-ever sustainability-linked Japanese Operating Lease with Call Option (JOLCO) for a new Airbus A321neo. This milestone financing reflects the airline’s commitment to integrating sustainable practices into its growth strategy.
Korean Air appears to be evaluating the possibility of operating its Airbus A380 fleet beyond the previously announced retirement year of 2026. Recent developments include sending several of its A380 superjumbos to Lufthansa Technik Philippines for D-checks, a major maintenance procedure required for long-term operational readiness.
EPCOR (Netherlands) and Philippine Airlines (Philippines) have announced a strategic partnership for the maintenance of Auxiliary Power Units (APUs) for Philippine Airlines’ A320 fleet. This agreement specifically focuses on the APU131-9A, a critical component ensuring reliable onboard power and system functionality.
Avia Solutions Group (Ireland) has announced the launch of its first Global Services Centre in Manila, marking a significant milestone in its global expansion strategy. The new centre is scheduled to begin operations in January 2025, bringing a wide range of aviation-related services to the Southeast Asian market.
Cebu Pacific (CEB), a leading airline in the Philippines, has clarified that it has no immediate plans to phase out its recently acquired domestic carrier, AirSWIFT. However, the airline is actively exploring the possibility of integrating the AirSWIFT brand into the Cebu Pacific group as part of its strategic review.
Cebu Air, the Philippines’ largest airline, has reported its 9M 2024 financial results, highlighting an 11% increase in total revenue to $1.26 billion compared to the same period in the previous year. However, the airline’s net income fell by 33%, settling at $57.8 million. This mixed performance reflects both the recovery in travel demand and ongoing operational cost pressures impacting profitability.
The Asian Development Bank (ADB), based in the Philippines, has officially approved a financing package aimed at supporting Air Niugini’s re-fleeting program.
