Cebu Pacific aims to fly 22 million passengers in 2018
The Philippines’ largest carrier, Cebu Pacific Air (PSE: CEB) aims to fly 22 million passengers in 2018, aligned with the increase in domestic and international inbound tourists. The target is 12 percent over the actual number of passengers flown in 2017.
Last year, Cebu Pacific flew 19.7 million passengers, up 3 percent year-on-year. Growth in domestic travel was relatively flat year-on-year. However, the number of international passengers expanded almost 8 percent, with strong performance in key markets like Sydney, Dubai, Hong Kong, Narita, Taipei and Incheon.
“Despite the challenges posed by higher prices of petroleum products, the weakening of the Peso versus the US Dollar, security concerns and travel advisories, we have remained relatively resilient. To reach our goal of flying 22 million passengers this year, we remain committed to offering a compelling route network where we can meet rising demand and sustain our year-round low fare proposition,” said Atty. JR Mantaring, Vice President for Corporate Affairs of Cebu Pacific.
“We are also committed to transforming the customer experience and enhancing safety through continuous investments in technology and facilities as well as process improvements.”
CEB posted a net income of PHP7.9 Billion (approximately USD152,788) in 2017, with passenger revenues up 7 percent and ancillary revenues—including baggage allowance, seat selection and pre-ordered meals—up 15 percent year-on-year. While fuel costs were over 20 percent higher in 2017, the average fare was up just 4 percent in 2017.
Cebu Pacific is expecting delivery of another three brand-new Airbus A321CEOs (Current Engine Option) in the coming days, adding to its current fleet of 62 aircraft. The carrier invested USD4.9 billion for a total of seven (7) Airbus A321CEO and 32 Airbus A321NEO (New Engine Option), with deliveries starting this year until 2022.
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