Budget carrier Cebu Pacific Inc. (CEB) reported a record revenue of P30.4 billion, 20 percent higher than the same period last year, on strong passenger traffic.
In a disclosure, the Gokongwei-owned airline told the Philippine Stock Exchange that it carried 7 million passengers, up 26 percent year-on-year despite the shift in Easter holidays to April this year from March in 2024.
However, CEB’s expansion in its fleet and financing costs in the first quarter resulted in a net income of PHP466 million only.
CEB accepted 15 aircraft deliveries and 13 spare engines over the past twelve months to support capacity growth and operational resilience amid global supply challenges. This resulted in additional fleet and financing costs in the first quarter of 2025.
While the increased fleet and broader operations led to higher costs, CEB maintained a healthy EBITDA of PHP6.7 billion, slightly higher than the previous year, translating to an EBITDA margin of 22 percent.
“We remain optimistic on our financial outlook. Underlying demand for affordable air travel remains strong, and we’ve made earlier strategic investments to ensure resilient operations. Leveraging on these existing assets, CEB remains well positioned for sustainable growth, and improving profitability,” said Mark Cezar, Chief Financial Officer at Cebu Pacific.
This increase in passenger traffic resulted in a 19 percent rise in passenger revenue to over PHP21 billion, and a 22 percent increase in ancillary revenue to over PHP7 billion.
By the end of the first quarter, Cebu Pacific had a fleet of 99 aircraft, serving 63 destinations and 127 routes, with over 3,200 weekly flights.
CEB’s expanded network and capacity also enabled growth in its cargo segment, with cargo revenues rising 35 percent year-on-year to PHP1.7 billion, as the airline transported 51.6 million kilograms of cargo.
