MANILA, Philippines - Cebu Pacific (CEB) was recently honored on a global scale, winning the prestigious Sustainability Aviation Lease Deal of the Year award at the 2025 Airline Economics Sustainability event.
The award recognized CEB's sustainability-linked Japanese Operating Lease with Call Option (JOLCO), which financed the delivery of a brand-new Airbus A321neo in December 2024.
The Airline Economics Sustainability Awards recognize finance and leasing companies and individuals who are making significant strides towards reducing carbon emissions in the aviation sector.
Cebu Pacific Chief Executive Officer Mike Szucs personally received the award during the ceremony at the Natural History Museum in Cromwell road, London on September 17 (September 18 in Manila).
The airline is the sole budget carrier in Southeast Asia that has been able to obtain this kind of financing, which is typically only offered to a limited number of major international airlines.
"Sustainability is integral to how we grow as an airline. By linking our financing to sustainability goals, we show that strategy and responsibility can work together. It strengthens the business, allow us to invest in modern fuel-efficient aircraft, and created value for our customers," said Mark Cezar, CEB Chief Financial Officer.
Under the deal, CEB committed to measurable targets to reduce the carbon emission intensity of its fleet. Meeting these goals would entitle the airline to financial incentives.
The A321neo acquired through the JOLCO financing is part of CEB's long-term strategy to transition to an all-NEO fleet, an important step in its commitment to decarbonize operations.
NEOs are 20 percent more fuel-efficient than older-generation aircraft, significantly reducing carbon emissions per flight.
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