BUDGET-carrier Cebu Pacific said that they signed a damp lease deal with Bulgaria Air.

The Gokongwei-led budget carrier said that this is to further strengthen their fleet for the coming year, as they anticipate an increase in the demand for the post-pandemic air travel recovery.

According to Cebu Pacific, the agreement with Bulgaria Air involves two Airbus 320 CEO aircraft.

They said that the two leased aircraft are expected to service two domestic routes, namely Manila-Cebu and Manila-Davao, from January to May 2024.

Under damp leasing, it serves as an agreement between two airlines, to which the  lessor provides aircraft, crew, maintenance, and insurance (ACMI) to the lessee.

“We continue to explore various opportunities to supplement the fleet and ensure operational resilience. This includes signing a damp lease agreement with Bulgaria Air for five months in 2024,” said Cebu Pacific president and chief commercial officer Xander Lao. 

“We expect to increase our fleet to 92 by 2024. With this, we expect our year-on-year seat growth to be within 5% to 8% in 2024,” said Lao.