As peak travel season looms, Cebu Pacific is proactively bolstering its capacity with a strategic fleet expansion. The airline has secured a damp lease agreement with Bulgaria Air, a move designed to meet the anticipated surge in passenger demand and ensure smooth operations.
This isn’t a first-time partnership; the two airlines successfully collaborated in early 2024. That initial agreement proved valuable, and this new arrangement signifies a growing trust and confidence in Cebu Pacific’s operational capabilities.
The agreement will bring two Airbus 320 CEO aircraft into service, each capable of carrying 180 passengers. These planes will focus on key domestic routes connecting Manila with Cebu, Davao, Iloilo, and Cagayan de Oro between December 2025 and January 2026.
A damp lease is a comprehensive arrangement, meaning Bulgaria Air will provide not only the aircraft but also the flight crew, maintenance services, and insurance coverage. This allows Cebu Pacific to quickly and efficiently increase capacity without significant capital investment.
The move comes as Cebu Pacific experiences growing passenger numbers. Recent reports indicate a 2.6% increase in passenger volume during the third quarter, reaching 1.83 million, driven by robust domestic travel.
Bulgaria Air, the national carrier of the Republic of Bulgaria, expressed pride in the collaboration, highlighting the professionalism of their team in managing international leasing projects. This partnership underscores their expanding reach and expertise in the aviation industry.
Currently, Cebu Pacific serves a vast network of 37 domestic and 26 international destinations spanning Asia, Australia, and the Middle East. This latest fleet addition reinforces their commitment to connecting travelers across these regions.
Despite the positive news regarding passenger growth and fleet expansion, market reaction was mixed. Shares in Cebu Air, Inc. experienced a slight decline on the stock exchange, closing at P29.30 per share.
