Cebu Pacific, a budget carrier from the Philippines, has obtained Southeast Asia's inaugural sustainability-linked loan (SLL) specifically for a low-cost airline. The undisclosed loan amount will be invested in sustainable practices across the airline's operations. Arranged by Crédit Agricole Corporate and Investment Bank (CIB), the loan is contingent upon Cebu Pacific's progress in reducing its fleet's carbon emissions. The airline has pledged to achieve performance-based goals for decarbonization, with financial rewards tied to their success. This financing has already enabled the acquisition of a new Airbus A321neo, aligning with Cebu Pacific's aim to have an all-NEO fleet by 2028.
Budget carrier Cebu Pacific said it has secured Southeast Asia’s first sustainability-linked Loan for a low-cost carrier, raising an undisclosed amount that will be used to inject sustainability into the operations of the Filipino airline.
The airline has committed to performance-based goals to lower its fleet’s carbon emission intensity, with financial incentives tied to achieving these objectives. Already, the loan facilitated the acquisition of a brand-new Airbus A321neo, delivered to Cebu Pacific on December 23. The A321neo, equipped with more fuel-efficient engines than earlier aircraft generations, aligns with the airline’s goal of transitioning to an all-NEO fleet by 2028.
We hope this is the first of many more sustainability-linked centered collaborations with Cebu Pacific,” said Bertrand Rovetto, Crédit Agricole CIB Head of Aviation Group Asia-Pacific.
Sustainability Aviation Finance Cebu Pacific Decarbonization
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