BUDGET CARRIER Cebu Pacific has entered into a damp lease agreement with Bulgaria Air to augment its fleet ahead of the expected surge in passenger traffic during the peak travel season.
“We are continuously exploring ways to expand our fleet and ensure operational resilience,” Cebu Pacific President and Chief Commercial Officer Alexander G. Lao said in a statement on Thursday.
Under the agreement, two Airbus 320 CEO aircraft from Bulgaria Air will service domestic routes between Manila and Cebu, Davao, Iloilo, and Cagayan de Oro from December 2025 to January 2026.
A damp lease allows the lessor to provide aircraft, crew, maintenance, and insurance to the lessee.
“This collaboration is yet another testament to the high level of trust and professionalism that our team delivers in the implementation of international leasing projects,” Hristo Todorov, chairman of the management board of Bulgarian Airways Group, said.
Each aircraft will have a 180-seat capacity. Bulgaria Air is the national carrier of the Republic of Bulgaria.
Cebu Pacific previously signed a similar agreement with Bulgaria Air in 2023 to service domestic routes such as Cebu and Davao from January to May 2024.
Cebu Pacific currently operates 37 domestic and 26 international destinations across Asia, Australia, and the Middle East.
For the third quarter, its listed operator Cebu Air, Inc. said passenger volume rose by 2.6% to 1.83 million, supported by strong domestic travel demand.
At the stock exchange on Thursday, shares in Cebu Air fell by 90 centavos, or 2.98%, to close at P29.30 each. — Ashley Erika O. Jose
