Cebu Pacific signs sale and leaseback with SMBC Aero Engines

SMBC Aero Engine Lease has grown its portfolio with Cebu Pacific Air with the conclusion of four PW1133GA-JM spare engines under sale & leaseback transaction. Roger Welaratne (MD & CEO) of SAEL, said: “We could not 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 more resilient carrier from the pandemic environment. This transaction brings value to both of us in the long term. SAEL is very proud to have concluded