Saudi Arabia's flyadeal and the Philippines' Cebu Pacific have announced the signing of a memorandum of understanding aimed at exploring commercial cooperation opportunities between the two sides, including aircraft maintenance, engineering and leasing.
The first phase of the memorandum provides for flyadeal to lease two Airbus A320 aircraft from Cebu Pacific during the summer season in Saudi Arabia. Cebu Pacific is also exploring the possibility of leasing aircraft from flyadeal's fleet during the winter season in Southeast Asia at the end of this year, according to a press release published on flyadeal's LinkedIn account.
This came during a joint press conference held by the two companies in Manila with the participation of their chief executives, at which details of the proposed cooperation were reviewed. Discussions began early this year following a visit by a flyadeal delegation to the Philippines to learn about the operation of Cebu Pacific's A330-900neo aircraft.
It is worth noting that flyadeal plans to begin operating long-haul flights with Airbus A330-900neo wide-body aircraft from 2027, while Cebu Pacific is working to boost the utilization of its aircraft during low-demand periods through leasing agreements with other airlines. Cebu Pacific was founded about 30 years ago and is headquartered in Manila, while flyadeal began operations 7 years ago and is based in Jeddah.
To view the post on flyadeal's LinkedIn account, click here.
