flyadeal and Cebu Pacific announce strategic partnership
Post Views: 41
flyadeal and Cebu Pacific signed a Memorandum of Understanding (MoU) to explore joint strategic commercial initiatives. The historic agreement covers a wide range of opportunities in commercial cooperation and support in aircraft maintenance and engineering.
The first phase of the MoU will see flyadeal take delivery of two Cebu Pacific Airbus A320 aircraft on a wet-lease arrangement for the upcoming summer peak flying season in the Kingdom of Saudi Arabia. Reciprocally, Cebu Pacific is examining wet- leasing flyadeal A320s during the busy winter period in southeast Asia at the end of the year.
The agreement was signed at a joint Press Conference held in Manila today at which flyadeal Chief Executive Officer Steven Greenway and Cebu Pacific CEO Mike Szucs outlined plans for a phased cooperation beginning with the wet-lease arrangement.
Talks between the two airlines began earlier this year following a visit by Greenway and a flyadeal delegation to Manila to learn more about Cebu Pacific's A330-900neo operations. flyadeal, the Middle East's fastest growing airline, recently announced plans to venture into the long-haul market with an order for 10 A330 widebodies to be deployed between Saudi Arabia and the Philippines, and across southeast Asia from 2027.
Greenway said: 'Today's agreement is momentous as it marks flyadeal's first ever strategic airline partnership. It was clear and obvious that flyadeal could learn a lot from Cebu Pacific's experience of low-cost long-haul operations given we will be inducting the same A330-900neos into our fleet in just two years' time. There are great benefits in sharing technical knowledge, training and best practice in preparation for our A330 induction and, of course, we are both A320 operators.
'This was the starting point for wide-ranging commercial discussions covering a broad range of areas including more immediate needs of wet-leasing aircraft for flyadeal's busy upcoming summer season. A win, win situation all round to bring in Cebu Pacific aircraft during our peak period and vice versa for Mike and his team to explore taking our aircraft for their winter peak later this year.'
Szucs explained: 'With Cebu Pacific's growing fleet, we seek to maximse the potential of our increased capacity through all months of the year. The utilisation of our capacity by other carriers during our lean season is a way of achieving that.
'This partnership with flyadeal highlights Cebu Pacific's growing capability to support international carriers through wet leasing and broader operational collaboration It diversifies our revenue streams and further expands Cebu Pacific's presence beyond the Asia Pacific region.' Both CEOs said their respective teams will meet frequently to map out the joint commercial plans over the next few months.
Manila-based Cebu Pacific, Asia's first low-cost airline, has built a strong network within the Philippines, across the region and developed an ever-growing long-haul presence since its inaugural flight almost 30 years ago.
Just seven years old, Jeddah-based flyadeal is predominately a Saudi Arabian domestic scheduled airline operating 38 narrow body Airbus A320s, a fleet set to triple in size to over 100 aircraft within five years that includes its new widebody operations.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
3 hours ago
- Zawya
Saudia expands regional footprint via flights to El-Alamein, Salalah
Riyadh – Saudia officially launched flights from Jeddah to El-Alamein in Egypt and Salalah in Oman, according to a press release. The new El-Alamein route marks Saudia's fourth destination in Egypt, with three weekly flights operating from King Abdulaziz International Airport in Jeddah in each direction. This is in addition to three weekly flights from King Khalid International Airport in Riyadh. Moreover, Saudia launched flights from Jeddah to Salalah in Oman, marking the airline's second destination in the country following Muscat. The route also operates with three weekly flights in each direction. Both new destinations are operated by Airbus A320 aircraft, with comfortable seating and a wide range of in-flight entertainment options developed to enhance the overall guest experience. Meanwhile, Saudia has a modern fleet of 147 aircraft and plans to add 118 more in the coming years. This expansion aligns with the Saudi airline's efforts to enhance the guest experience, deploying advanced AI technologies and leveraging the latest developments in ground and in-flight services. The company recently launched its first direct flights from Riyadh to Vienna, the capital of Austria. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
16 hours ago
- Zawya
Saudia launches flights to Al Alamein and Salalah
Jeddah: Saudia, the national flag carrier of Saudi Arabia, has officially launched flights to Al Alamein in Egypt and Salalah in Oman. The new Al Alamein route marks Saudia's fourth destination in Egypt, which now operates three weekly flights from King Abdulaziz International Airport in Jeddah in each direction, in addition to three weekly flights from King Khalid International Airport in Riyadh. Saudia has also inaugurated flights from Jeddah to Salalah in Oman, marking the airline's second destination in the country following Muscat. The route operates with three weekly flights in each direction. Both new destinations are operated by Airbus A320 aircraft, renowned for their operational efficiency and onboard amenities, including comfortable seating and a wide range of in-flight entertainment options, designed to enhance the overall guest experience. Saudia continues this growth with a modern fleet of 147 aircraft and plans to add 118 more in the coming years. This expansion is complemented by innovative efforts to elevate guest experience, using advanced AI technologies and the latest developments in ground and in-flight services. -Ends- About Saudia: Saudia (Saudia Airlines) is the national flag carrier of the Kingdom of Saudi Arabia. Established in 1945, the company has grown to become one of the Middle East's largest airlines. Saudia has invested significantly in upgrading its aircraft and currently operates one of the youngest fleet, with 147 aircraft. The airline serves an extensive global route network covering around 100 destinations across four continents, including all 28 domestic airports in Saudi Arabia. A member of the International Air Transport Association (IATA) and the Arab Air Carriers Organization (AACO), Saudia has also been a member airline in SkyTeam, the second largest alliance, since 2012. Saudia was recently awarded the "World Class Airline 2025" for the fourth consecutive year at The APEX Official Airline Ratings™ awards. Saudia has also advanced 11 places in the Skytrax airlines ranking of the World Best Airlines 2023. The Airline also ranked top among global airlines for best on-time performance (OTP) according to a report by Cirium. For more information on Saudia, please visit
Arabian Post
4 days ago
- Arabian Post
Flynas IPO Falters Amid Regional Tensions
Saudi Arabia's budget carrier Flynas debuted on the Tadawul at SAR 80, raising SAR 4.1 billion, but shares closed at SAR 77.30—down over 3 %—despite an opening high of SAR 84.10 and a low of SAR 69.90. Investors responded nervously to heightened regional instability following military activity between Iran and Israel. Across Gulf markets, risk aversion sharply impacted airline stocks: Flynas dropped roughly 3.4 % on debut, ACWA Power slipped 3.3 %, and Saudi Aramco eased by 0.3 %. Regional airspace closures disrupted operations, forcing Gulf carriers to reroute flights and ramping up costs. Earlier trading saw Flynas plunge nearly 13 % to SAR 69.90 before recovering amid volatile swings capped by Tadawul's three-day fluctuation limit. Flynas marks the region's largest initial offering so far this year and the first by a Gulf airline in nearly two decades. The institutional tranche drew orders nearly 100 times publication, with the retail portion oversubscribed by 350 %, drawing 666,069 individual investors. ADVERTISEMENT Despite initial jitters, analysts stress Flynas's underlying strength. Its IPO pricing at the SAR 80 range reflects strong demand, and the airline's Saudi domestic base offers cost insulation from international fuel swings. SICO Bank remarked that while valuations were premium, the carrier's growth narrative remains compelling, even amid geopolitical uncertainty. The IPO's success adds momentum to the kingdom's capital markets, with six main‑market offerings this year raising over $2.8 billion and four others awaiting approval. Legal advisors note that despite market turbulence, appetite for public listings in the region remains robust. Operationally, Gulf airlines continue facing disruption. Several regional countries have closed airspace in response to conflict escalation, forcing airlines to reroute flights via longer corridors over Egypt and the Red Sea—pressuring operational efficiency. Fuel costs have jumped in tandem with the conflict, further squeezing airline margins. Gibson Dunn LLP acted as lead counsel, coordinating across global and local underwriting teams that included Goldman Sachs Saudi Arabia and Morgan Stanley Saudi Arabia. The combined institutional and retail interest helped the offering exceed $100 billion in orders. Flynas's Istanbul IPO arrives at a pivotal moment. The airline's strategic plan, backed by Kingdom Holding and the Public Investment Fund, aligns with Saudi Vision 2030's aim to transform the kingdom into a travel destination. Having ordered 160 aircraft from Airbus—including narrow-body A320s and its first wide-body A330s—the carrier is expanding fleet and network rapidly. Industry analysts caution that policy and geopolitical risks will continue to shape investor sentiment. While some entrants have postponed their floatings, many are proceeding quickly—optimising pricing and timing to counter valuation headwinds. The flight path for new listings in the Gulf may be turbulent, but Flynas's performance suggests that well-structured IPOs with strong fundamentals can still attract robust interest.
