CEBU PACIFIC, operated by Cebu Air, Inc., is optimistic about posting strong results this year, driven by its fleet and network expansion in 2024.
“Our work over the past couple of years has positioned Cebu Pacific 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 the organization, other stakeholders, and, of course, your unwavering support,” Cebu Air Chairman Lance Y. Gokongwei said in a media release on Thursday.
Cebu Pacific Chief Executive Officer Michael B. Szücs also expressed confidence in growth for 2025, noting that the market is already absorbing its additional capacity and network expansion.
While the airline posted higher revenues in 2024, its net income dropped 68.3% to P2.64 billion from P8.34 billion in 2023, as rising costs outpaced revenue growth.
Total revenues grew 15.4% to P98.19 billion from P85.09 billion in 2023, according to Cebu Air.
Passenger revenue increased 13.5% to P65.15 billion from P57.4 billion, while cargo revenue rose to P5.54 billion. Ancillary revenue expanded to P27.51 billion from P23.69 billion. However, total expenses surged to P89.84 billion from P77.72 billion, weighing on profitability.
In October 2024, Cebu Pacific finalized a P1.4-trillion ($24 billion) aircraft order with Airbus SE for up to 152 aircraft.
The budget airline received 17 aircraft deliveries in 2024, which facilitated the development and expansion of its hubs across the country. In March 2025, the airline received its first aircraft delivery for the year and expects a total of seven deliveries by yearend.
Currently, Cebu Pacific operates 37 domestic and 26 international destinations across Asia, Australia, and the Middle East.
At the stock exchange on Thursday, Cebu Air shares closed 14% lower at P35.05 per share. — Ashley Erika O. Jose
