Cebu Pacific Eyes Growth With Record Revenue, Fleet Boost

Cebu Pacific (CEB) is building on its industry leadership with a strategic growth plan centered on fleet expansion and network development in 2024.

At the company’s annual stockholders meeting, CEB Chairman Lance Gokongwei emphasized the importance of continued operational excellence, network growth and strategic aircraft investments.

“Our work over the past couple of years has placed Cebu Pacific in a position to take advantage of the Philippine growth story, and we are confident that our airline will continue to reach new highs—thanks to the outstanding work of our organization, other stakeholders and your unwavering support,” Gokongwei said.

The airline ended 2024 with strong revenue growth, record-breaking passenger numbers and a consistently high seat load factor.

To support this momentum and ensure operational resilience amid industry challenges, CEB took delivery of 17 aircraft in 2024 and continued developing its hubs nationwide to expand access to affordable air travel.

CEB Chief Executive Officer Michael Szucs said investments in hubs and aircraft have been central to the airline’s success.

“By seizing these opportunities, we have not only outpaced competition but also solidified our position as the industry leader,” Szucs said.

In 2024, CEB became the leader in the Philippine international market while further strengthening its dominance in the domestic segment.

Szucs said early 2025 indicators show the market is absorbing additional capacity, further supporting the company’s financial growth.

He expressed optimism about the long-term outlook for Philippine aviation, citing the country’s economic, geographic and demographic strengths.

Backing this view is CEB’s historic 2024 order for up to 152 aircraft, which underscores its commitment to national development and long-term market leadership.

Record Revenue in First Quarter of 2025

Cebu Pacific (PSE: CEB) posted a record PHP30.4 billion in first-quarter revenue, up 20% from a year earlier.

The airline carried 7 million passengers in the first quarter, up 26% year-on-year, despite the shift of the Easter holiday to April from March.

This surge in passenger volume drove a 19% increase in passenger revenue to more than PHP21 billion and a 22% rise in ancillary revenue to over PHP7 billion.

By the end of March, CEB operated a fleet of 99 aircraft, serving 63 destinations and 127 routes with more than 3,200 weekly flights.

The expanded network and capacity also boosted the airline’s cargo business, with revenues rising 35% year-on-year to PHP1.7 billion as CEB transported 51.6 million kilograms of cargo.

Over the past 12 months, the airline received 15 new aircraft and 13 spare engines to support its capacity goals and operational resilience amid global supply chain challenges.

These additions led to higher fleet and financing costs in the first quarter of 2025.

Despite the cost increase, CEB reported a healthy EBITDA of PHP6.7 billion, slightly higher than the previous year, reflecting an EBITDA margin of 22%.

Operating income reached PHP1.96 billion, resulting in a net income of PHP466 million.

“We remain optimistic on our financial outlook,” said Cebu Pacific Chief Financial Officer Mark Cezar.

“Underlying demand for affordable air travel remains strong, and we’ve made earlier strategic investments to ensure resilient operations.”

“Leveraging these existing assets, CEB remains well positioned for sustainable growth and improving profitability,” he added.