SMBC Aero Engine Lease has grown its portfolio with Cebu Pacific Air with the conclusion of four PW1133GA-JM spare engines under sale & leaseback transaction.
Roger Welaratne (MD & CEO) of SAEL, said: “We could not be more pleased to strengthen our relationship with Cebu Pacific Air and grow our portfolio with these next-generation technology engines. Cebu Pacific Air has executed a robust, sound, and successful business plan to emerge as a stronger and more resilient carrier from the pandemic environment. This transaction brings value to both of us in the long term. SAEL is very proud to have concluded a total of 12 engine sale-leaseback transactions with Cebu Pacific over the last 2 years and will continue to seek creative engine portfolio solutions to help Cebu Pacific and be a trusted engine partner”.
Mark Cezar (CFO) says:” CEB is likewise delighted to close another deal with SAEL. It is with the help and trust of our partners like SAEL that CEB was able to hurdle the past 2 years of the pandemic and come out as one of the stronger carriers in the region.”