Cebu Pacific (CEB), the Philippines’ leading low-cost carrier, has been honored with the Sustainability Aviation Lease Deal of the Year at the 2025 Airline Economics Sustainability Deals Awards in London.
The award recognizes the airline’s groundbreaking sustainability-linked Japanese Operating Lease with Call Option (JOLCO), used to finance the delivery of a new Airbus A321neo aircraft in December 2024. This achievement is particularly notable as Cebu Pacific is the only low-cost carrier in Southeast Asia to secure this type of financing, a structure typically reserved for a select group of major global airlines.
The Airline Economics Sustainability Awards celebrate companies and individuals in the finance and leasing sectors who are leading meaningful progress toward decarbonizing the aviation industry.
“We are incredibly proud to receive this award, which underscores our commitment to making air travel more sustainable,” said Mike Szucs, CEB Chief Executive Officer. “This JOLCO financing deal is a testament to our innovative approach and a key part of our long-term strategy to transition to a more fuel-efficient, all-NEO fleet.”
The new Airbus A321neo is a crucial component of Cebu Pacific’s fleet modernization program. NEOs are approximately 20% more fuel-efficient than older-generation aircraft, which significantly reduces carbon emissions per flight.
This recognition highlights Cebu Pacific’s dedication to its long-term decarbonization goals and its leadership in sustainable aviation practices within the region.
