(Hong Kong, 7 Feb 2024) - China Aircraft Leasing Group Holdings Limited ("CALC" or the "Company", together with its subsidiaries, the "Group"; SEHK stock code: 01848), a full value chain aircraft solutions provider for the global aviation industry, is pleased to announce that the Group has delivered one Airbus A320ceo aircraft to Cebu Air, Inc., (“Cebu Pacific”), the Philippines leading carrier. The deal marks the first delivery between CALC and Cebu Pacific, reinforcing the Group’s strategy to continue to maintain a high-quality clientele while further establishing a firm footing for the Group to grow its partnership with the leading airlines in the region. 

The aircraft was previously leased to a Chinese airline since 2012 and redelivered to Cebu Pacific subsequently after the first lease agreement expired. The seamless process of remarketing and redelivery to a new customer, along with the commencement of a new lease collaboration, highlights CALC's well-established expertise in leasing and trading used aircraft on a global scale.

“This aircraft delivery is aligned with our commitment to provide safe, accessible, and affordable flights for everyone. We look forward to forging a stronger partnership with CALC to further boost our fleet expansion efforts and enable more passengers to fly to their chosen destinations,” said Mark Julius Cezar, Cebu Pacific Chief Financial Officer.

“We are delighted to welcome Cebu Pacific as our newest customer and we look forward to building long-term partnership with the airline. We are dedicated to supporting Cebu Pacific's growth plans in Asia through future transactions and collaborations.” said Ms. Winnie Liu, Executive Director and CCO of CALC. “This transaction also serves as a testament to CALC’s asset management capabilities to customize full-life solutions for aircraft at every stage to ensure the best preservation of the asset value.”

With its low-cost business model and extensive destination network, Cebu Pacific became the Philippines' largest airline based on number of passengers flown on domestic and international routes.