Cebu Pacific has signed a wet lease agreement with Vietnam Airlines, according to a report by Philstar Biz. The deal covers the deployment of one Airbus A320neo aircraft powered by Pratt & Whitney engines.
Under a wet lease arrangement, the lessor provides the aircraft, crew, maintenance, and insurance, allowing Cebu Pacific to add capacity without committing to long-term aircraft purchases. The A320neo is part of Vietnam Airlines' fleet and will be integrated into Cebu Pacific's operations.
The agreement reflects Cebu Pacific's strategy to manage fleet flexibility amid strong travel demand. Wet leasing is a common practice among carriers to cover seasonal peaks or bridge gaps during aircraft deliveries.