Cebu Pacific and Vietnam Airlines have signed a wet lease agreement, according to Philstar Biz. The deal covers the deployment of one Airbus A320neo aircraft powered by Pratt & Whitney engines.
Wet leasing involves the lessor providing both the aircraft and crew, allowing airlines to temporarily expand capacity without long-term commitments. This arrangement helps Cebu Pacific manage peak demand or cover maintenance downtime.
The A320neo is known for fuel efficiency and reduced emissions, aligning with the carriers' sustainability goals. The lease period and financial terms were not disclosed.