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Tourism Breaking News
7 days ago
- Business
- Tourism Breaking News
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.
Korea Herald
28-05-2025
- Business
- Korea Herald
Cebu Pacific, Flyadeal Forge Strategic Partnership for Wet Lease, Commercial Cooperation
@CebuPacificAir #LetsFlyEveryJuan MANILA, Philippines , May 28, 2025 /PRNewswire/ -- Cebu Pacific (CEB), Philippines' leading carrier, and flyadeal, Saudia Arabia's fast growing low-cost airline, today 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 maintenance and engineering. The first phase of the MoU will see flyadeal utilize two of Cebu Pacific's 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 (CEO) 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 maximize the potential of our increased capacity through all months of the year. The utilization 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. About Cebu Pacific Cebu Pacific is the Philippines' largest carrier both domestically and internationally with 37 domestic destinations, with hubs in Manila, Cebu, Clark, Iloilo, and Davao. It also currently operates flights to 26 international destinations, spanning across Asia, Australia, and the Middle East. Cebu Pacific currently operates a fleet of 98 aircraft—the youngest jet fleet in the Philippines—including a diversified mix of Airbus A320, A321, A330, and ATR aircraft. In 2024, CEB signed a landmark purchase agreement with Airbus and Pratt & Whitney, an RTX business, for up to 152 A321neo aircraft, equipped with Pratt & Whitney GTF™ engines. This acquisition --- which has a minimum commitment of 70 aircraft --- is the largest in Philippine aviation history, valued at approximately USD $24 billion (PHP 1.4 trillion) based on list prices for the entire 152 aircraft order. This purchase agreement reflects CEB's unwavering optimism for the future of air travel and steadfast commitment to meeting the evolving needs of passengers. CEB was awarded as the Best Low-Cost Airline Brand in the Philippines in 2023 by World Economic Magazine, and the Best Airline in 2024 by Route Asia Awards. CEB is also a recognized ESG leader in both the Philippines and the Global Airline Industry. It also received a Gold Rating for Environmental Sustainability from Centre for Asia Pacific Aviation (CAPA) in 2023 and achieved an MSCI ESG rating of 'AA' in 2024. Only two companies in the Philippines and only 11 airlines in the world achieve this distinction. CEB remains dedicated to providing affordable and accessible flights, enabling more travelers to connect with people, explore new places, and seize opportunities across the Philippines and beyond. About flyadeal On 23 September 2017, National Day of the Kingdom of Saudi Arabia, flyadeal began operations with its historic maiden flight from Jeddah to Riyadh. A pioneer and innovator, flyadeal was the first regional low-cost airline to be launched only across digital distribution channels. Being the sister airline of full-service national carrier Saudia — both under the umbrella ownership of Saudi Arabian Airlines Corporation (Saudia Group) — flyadeal was created for the price-conscious and tech-savvy consumer in mind in a market where 80 per cent of the Saudi population is aged less than 40 years and has at least two mobile phones. flyadeal aims to stimulate travel, tourism and trade with its affordable, value for money everyday fares catering to leisure, religious, family and business travellers. Simplicity is key with an all-Economy Class cabin across flyadeal's narrowbody fleet. With the Kingdom undergoing dramatic transformation through its Vision 2030 economic diversification drive, aviation and tourism are among the many sectors earmarked for dynamic growth. flyadeal is the fastest growing airline in the Kingdom of Saudi Arabia and Middle East, recognised for excellence in on-time performance that is consistently above the global industry average. flyadeal operates a young fleet of Airbus A320 narrowbody aircraft flying from bases in Riyadh, Jeddah and Dammam to destinations across Saudi Arabia with a growing international footprint in Europe, Middle East, North Africa and South Asia. The airline has flown over 35 million passengers since its inaugural flight. In May 2024, flyadeal placed its biggest ever order for 51 aircraft – 12 A320neos and 39 larger A321neos – with a delivery schedule beginning in 2026. In addition, flyadeal will operate long-haul scheduled services from 2027 with the phased induction of 10 Airbus A330neo widebody aircraft ordered by Saudia Group in April 2025. By 2030, flyadeal plans to operate hundreds of routes that will see its fleet and network triple in number to over 100 aircraft and destinations, respectively. flyadeal's aggressive expansion drive makes the rapidly growing airline one of the country's most desirable companies to work for.
Filipino Times
28-05-2025
- Business
- Filipino Times
PH's Cebu Pacific, Saudi Arabia's flyadeal forge Strategic Partnership for Wet Lease, Commercial Cooperation
Cebu Pacific (CEB), Philippines' leading carrier, and flyadeal, Saudia Arabia's fast growing low-cost airline, today 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 maintenance and engineering. The first phase of the MoU will see flyadeal utilize two of Cebu Pacific's 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 (CEO) 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. Signing of Strategic Partnership Agreement and Media Briefing 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 maximize the potential of our increased capacity through all months of the year. The utilization 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.' Cebu Pacific, Flyadeal Forge Strategic Partnership for Wet Lease, Commercial Cooperation Both CEOs said their respective teams will meet frequently to map out the joint commercial plans over the next few months.
Yahoo
28-05-2025
- Business
- Yahoo
Cebu Pacific, Flyadeal Forge Strategic Partnership for Wet Lease, Commercial Cooperation
@CebuPacificAir #LetsFlyEveryJuan MANILA, Philippines , May 28, 2025 /PRNewswire/ -- Cebu Pacific (CEB), Philippines' leading carrier, and flyadeal, Saudia Arabia's fast growing low-cost airline, today 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 maintenance and engineering. The first phase of the MoU will see flyadeal utilize two of Cebu Pacific's 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 (CEO) 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 maximize the potential of our increased capacity through all months of the year. The utilization 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. About Cebu Pacific Cebu Pacific is the Philippines' largest carrier both domestically and internationally with 37 domestic destinations, with hubs in Manila, Cebu, Clark, Iloilo, and Davao. It also currently operates flights to 26 international destinations, spanning across Asia, Australia, and the Middle East. Cebu Pacific currently operates a fleet of 98 aircraft—the youngest jet fleet in the Philippines—including a diversified mix of Airbus A320, A321, A330, and ATR aircraft. In 2024, CEB signed a landmark purchase agreement with Airbus and Pratt & Whitney, an RTX business, for up to 152 A321neo aircraft, equipped with Pratt & Whitney GTF™ engines. This acquisition --- which has a minimum commitment of 70 aircraft --- is the largest in Philippine aviation history, valued at approximately USD $24 billion (PHP 1.4 trillion) based on list prices for the entire 152 aircraft order. This purchase agreement reflects CEB's unwavering optimism for the future of air travel and steadfast commitment to meeting the evolving needs of passengers. CEB was awarded as the Best Low-Cost Airline Brand in the Philippines in 2023 by World Economic Magazine, and the Best Airline in 2024 by Route Asia Awards. CEB is also a recognized ESG leader in both the Philippines and the Global Airline Industry. It also received a Gold Rating for Environmental Sustainability from Centre for Asia Pacific Aviation (CAPA) in 2023 and achieved an MSCI ESG rating of 'AA' in 2024. Only two companies in the Philippines and only 11 airlines in the world achieve this distinction. CEB remains dedicated to providing affordable and accessible flights, enabling more travelers to connect with people, explore new places, and seize opportunities across the Philippines and beyond. For more information, please contact:Carmina RomeroCebu Pacific, Director for Corporate CommunicationsEmail: About flyadeal On 23 September 2017, National Day of the Kingdom of Saudi Arabia, flyadeal began operations with its historic maiden flight from Jeddah to Riyadh. A pioneer and innovator, flyadeal was the first regional low-cost airline to be launched only across digital distribution channels. Being the sister airline of full-service national carrier Saudia — both under the umbrella ownership of Saudi Arabian Airlines Corporation (Saudia Group) — flyadeal was created for the price-conscious and tech-savvy consumer in mind in a market where 80 per cent of the Saudi population is aged less than 40 years and has at least two mobile phones. flyadeal aims to stimulate travel, tourism and trade with its affordable, value for money everyday fares catering to leisure, religious, family and business travellers. Simplicity is key with an all-Economy Class cabin across flyadeal's narrowbody fleet. With the Kingdom undergoing dramatic transformation through its Vision 2030 economic diversification drive, aviation and tourism are among the many sectors earmarked for dynamic growth. flyadeal is the fastest growing airline in the Kingdom of Saudi Arabia and Middle East, recognised for excellence in on-time performance that is consistently above the global industry average. flyadeal operates a young fleet of Airbus A320 narrowbody aircraft flying from bases in Riyadh, Jeddah and Dammam to destinations across Saudi Arabia with a growing international footprint in Europe, Middle East, North Africa and South Asia. The airline has flown over 35 million passengers since its inaugural flight. In May 2024, flyadeal placed its biggest ever order for 51 aircraft – 12 A320neos and 39 larger A321neos – with a delivery schedule beginning in 2026. In addition, flyadeal will operate long-haul scheduled services from 2027 with the phased induction of 10 Airbus A330neo widebody aircraft ordered by Saudia Group in April 2025. By 2030, flyadeal plans to operate hundreds of routes that will see its fleet and network triple in number to over 100 aircraft and destinations, respectively. flyadeal's aggressive expansion drive makes the rapidly growing airline one of the country's most desirable companies to work for. For more information, please contact:Updesh KapurCorporate Communications DepartmentEmail: View original content to download multimedia: SOURCE Cebu Pacific Air Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
09-05-2025
- Business
- Cision Canada
Greenway Provides Cultivation and Market Update
KINGSVILLE, ON, May 9, 2025 /CNW/ - Greenway Greenhouse Cannabis Corporation (CSE: GWAY) (OTCQB: GWAYF) ("Greenway" or the "Company"), a cultivator of high-quality greenhouse cannabis for the Canadian market, today announced it has applied to Health Canada for new dedicated propagation space at the Leamington, Ontario facility, which should help increase the number of batches the facility can grow annually, and provided an update on current market dynamics. Greenway has applied through Health Canada to create new dedicated propagation and vegetation space at its current cultivation facility located in Leamington, Ontario. This new space is meant to be utilized for mid-stream propagation, allowing Greenway to gain space and time efficiencies in their flowering rooms. By doing this, the Company believes it will be able to increase the amount of biomass the facility can throughput annually and should help Greenway move toward its goal of having six full crop rotations every year. "We are always looking for new ways to increase our efficiency and lower our costs, and changing over this space will better equip us to achieve both of those goals," said Carl Mastronardi, President of Greenway. "We have found by giving our cuttings coming over from our nursery more time to become acclimated to the greenhouse environment before moving into the flowering stage, we receive higher production from our premium genetics. By having this new dedicated space, we can make sure that the plants remain in the most optimized environment for each stage of their development. Space and timing efficiencies are one of the ways we can continue to make incremental progress as a grower." Supply and Wholesale Price Update Greenway continues to see positive signs that the wholesale domestic and international markets are rebounding from the lows of 2023. The Company's revenue per gram has been steadily increasing for 6 straight quarters, from $0.84 to $1.58 per gram. "As we have seen the wholesale price of cannabis for Greenway increase, the speed at which we have been able to move our crops has also increased. This trend has continued since our most recent quarter and shows no signs of regression. Everything we are growing right now and over the last few months has had a home before it has even finished being harvested," said Jamie D'Alimonte, CEO of Greenway. "This is a great sign for the industry, as it ensures consumers are getting the freshest product possible, and that Greenway is not sitting on any inventory. With both the domestic and international markets heating up rapidly over the last 18 months, we have also been able to move towards more advantageous commercial terms." CPG Update Greenway's MillRite brand continues to be a leader among pre-rolls in the 2x0.5G size category, being the #2 ranked brand and having both the #2 ranked Indica and Sativa pre-roll in the segment with their Lavender Haze and Pink Moon. Over the next few months, the MillRite has new pre-roll sizes coming to Ontario, including its first foray into the blunt category with the Lavender Haze 1 gram glass tipped blunt arriving on store shelves before the end of May. In April, Greenway re-launched The Jeffrey pre-rolls in Ontario, which are now available across the province for purchase in three convenient sizes, helping expand Greenway's presence into new size categories. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and may not be offered or sold in the United States unless registered under the 1933 Act and any applicable securities laws of any state of the United States or an applicable exemption from the registration requirements is available. About Greenway Greenway Greenhouse Cannabis Corporation is a federally licensed cultivator for the Canadian cannabis marketplace. Greenway is headquartered in Kingsville, Ontario, and leverages its agriculture and cannabis expertise in its aspiration to be a leading cannabis cultivator in Canada. More information can be found on and updates can be followed on Instagram, Twitter, Facebook, and LinkedIn. Cautionary Note Regarding Forward-Looking Statements This news release contains forward-looking statements that constitute forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that are not purely historical statements of fact are forward-looking statements and include statements regarding the Offering and the intended use of proceeds thereof, and the Company's beliefs, plans, expectations, future, strategy, objectives, goals and targets, the development of future operations, and orientations regarding the future as of the date of this news release. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward- looking statements are typically identified by words such as: "believes", "expects", "aim", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, assumptions, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements, and includes those risks described in the Company's final prospectus dated September 3, 2021, a copy of which is available under the Company's profile at Forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements
