Avolon inks SLB with Cebu Pacific for four A330neos

Avolon has made a sale and leaseback agreement with Philippines low-cost Cebu Pacific for four A330neos. The first aircraft is scheduled for delivery in late 2024 with the final delivery planned in 2026. The new aircraft will support Cebu's expansion of its route network in Asia and the Middle East, along with its goals to reduce carbon emissions. ""With the continuing recovery of air travel in Asia we look forward to further opportunities to support customers on sale and leaseback transactions, or through our orderbook, as the availability of widebodies out to 2030 continues to tighten."" said Avolon chief commercial officer and president Paul Geaney. Cebu Pacific chief strategy officer Alex Reyes added: ""We appreciate Avolon's continued support of our growth strategy as we further strengthen our position as one of Asia Pacific’s leading low-cost carriers."" The airline has been a customer of Avolon since 2012 with 11 aircraft already on lease from the company, including five A320ceos, three A320neos, and three A330neos.