Cebu Air, Inc., the operator of Cebu Pacific, has signed a wet lease agreement with Vietnam Airlines to supply an aircraft and crew to the Vietnamese flag carrier.
The deal covers one Airbus A320neo aircraft powered by Pratt & Whitney engines, to be operated by Cebu Pacific’s pilots and cabin crew from July 15 to September 7.
The aircraft will be based in Ho Chi Minh City and serve domestic routes linking the city with Cam Ranh, Phu Quoc, Vinh, and Da Nang.
The carrier said the partnership allows it to deploy excess capacity during lower-demand periods in the Philippines while expanding its presence in one of the world’s fastest-growing aviation markets.
Company executives noted that Southeast Asia continues to see strong growth in air travel, creating opportunities for closer airline collaboration to meet demand.
The agreement also demonstrates the airline’s ability to enter wet lease arrangements with other carriers as both a lessor and a lessee, broadening its role beyond passenger operations.
Cebu Pacific has previously engaged in damp lease agreements with Bulgaria Air, leasing two Airbus A320ceo aircraft in 2023 and again during the 2025 peak season.
Under the later arrangement, two A320ceo aircraft served Philippine domestic routes between Manila and Cebu, Davao, Iloilo, and Cagayan de Oro from December 2025 to January 2026.
A damp lease provides aircraft, maintenance, and insurance, with cockpit crew potentially supplied by the lessee, unlike a wet lease that includes full crew provision.
Cebu Pacific operates a fleet of 14 Airbus A330s, 27 Airbus A321s, 40 Airbus A320s, and 20 ATR turboprop aircraft, with seven additional aircraft expected to join this year.
In the first quarter, the parent company posted a net loss attributable to equity holders of P419.94 million, reversing a P465.90-million profit a year earlier as operating expenses rose.
