Cebu Pacific, the Philippines’ leading airline, announced its financial and operating results for the first quarter of 2026, reporting a 10% year-on-year increase in total revenue to ₱33.3 billion.
The robust performance was propelled by strategic seat capacity expansion and sustained passenger demand across both its domestic and international networks.
During the quarter, Cebu Pacific safely flew 7.5 million passengers—an 8% increase compared to the same period last year—while maintaining a healthy seat load factor of 83.7%. This highlights the airline’s effective capacity deployment and the continued resilience of the travel sector.
| Financial Metric | Q1 2026 | Year-on-Year (YoY) Change |
| Total Revenue | ₱33.3 Billion | ▲ 10% |
| Passenger Revenue | ₱22.5 Billion | ▲ 6% |
| Ancillary Revenue | ₱9.0 Billion | ▲ 19% |
| Cargo Revenue | ₱1.8 Billion | ▲ 8% |
| EBITDA | ₱8.4 Billion | ▲ 26% |
| Operating Income | ₱3.0 Billion | ▲ 54% |
The airline saw growth across all major revenue streams. Ancillary revenue led the surge with a 19% increase to ₱9 billion, driven by ongoing improvements in ancillary yields. Additionally, the belly-hold cargo business expanded by 8% to ₱1.8 billion, boosted by the increased availability of widebody aircraft capacity.
Cebu Pacific’s focus on cost discipline and operational efficiency successfully mitigated the higher operating costs associated with its ongoing fleet expansion. Consequently, operating income skyrocketed by 54% to ₱3 billion, up from the previous year. Core profitability also saw dramatic gains, with core income before tax jumping to ₱1.3 billion, compared to just ₱325 million in Q1 2025.
While operational metrics remained exceptionally strong, sharp depreciation of the Philippine Peso at quarter-end resulted in non-core foreign exchange losses of ₱1.8 billion. This accounting impact led to a net loss of ₱400 million for the quarter, compared to a net income of ₱466 million in the prior year.
Despite this non-core headwind, Cebu Pacific maintains an incredibly robust financial foundation. The airline closed March 2026 with a fleet of 101 aircraft and a commanding liquidity position, holding over ₱23 billion in cash. This financial buffer provides the company with ample flexibility to navigate macroeconomic volatility while fully supporting its long-term strategic initiatives.
“Our first‑quarter performance reflects the strength of our network and disciplined capacity deployment,” said Mike Szucs, Chief Executive Officer of Cebu Pacific. “As we navigate a more volatile operating environment amid higher fuel prices, we are taking a more cautious and measured approach focused on margin protection, prudent capacity deployment, and liquidity preservation. Our scale, fleet efficiency, and strong domestic network position us well to navigate near-term uncertainty while continuing to build long-term value.”
