SMBC Aero Engine Lease (Netherlands) has grown their portfolio with Cebu Pacific Air with the conclusion of four (4) PW1133GA-JM spare engines under sale & leaseback. Roger Welaratne (MD & CEO) of SAEL has said, “We couldn’t 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 resilient carrier from the pandemic environment. This transaction brings value to both of us for 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.”