Gokongwei-owned Cebu Pacific (CEB) full year 2025 net income reached a record PHP12.38 billion, more than double its performance in 2024, on strong passenger and cargo revenue streams.
In a disclosure to the Philippine Stock Exchange, the low cost carrier said its revenue for the entire 2025 reached a record PHP119.9 billion, a 14 percent increase over 2024.
CEB attributed its performance to strong passenger revenue, which rose 13 percent to PHP80.8 billion. CEB flew a record 26.9 million passengers in 2025, a 10 percent increase, supported by a healthy 84.0 percent seat load factor. Ancillary yields likewise improved, resulting to ancillary revenue of PHP32.0 billion, a 14 percent increase.
Cargo revenues also rose 27 percent to PHP7.2 billion, supported by 215 million kilos of cargo carried, up 27 percent, year on year.
EBITDA reached PHP30.9 billion, up 21 percent year on year, expanding EBITDA margin to 26 percent, while operating income grew 25 percent to PHP11.5 billion, yielding an improved operating margin of 10 percent.
After financing costs, Pre-tax Core Income reached PHP4.8 billion, up 54 percent year-on-year. And with the additional non-core gains, CEB’s net income for 2025 expanded to PHP12.3 billion – more than double its net income in 2024.
Cash outflow for investments was PHP6.4 billion, as CAPEX requirements were partly offset by proceeds from the sale of assets. After cash for operations and financing activities which included the dividend payout to its convertible preferred shareholders in October of 2025, CEB ended 2025 with cash balance of PHP21.7 billion.
With 100 aircraft in its fleet, Cebu Pacific ended 2025 total assets of PHP264.7 billion and total liabilities of PHP245.7 billion, expanding its total equity to PHP19.0 billion. Net debt comprised PHP169.7 billion.
“Cebu Pacific’s 2025 financial results demonstrate the returns of strategic investments in capacity growth, fleet modernization and operational integrity. The larger, more fuel efficient A330NEOs and A321NEOs helped deliver improved seat economics network wide. Together with our focus on e iciency, this helped mitigate the increased expenses in maintenance, airports and fleet related costs due to grounded aircraft,” said Mark Cezar, CEB’s Chief Financial Officer.
“Overall, the 2025 results underscore the strength of Cebu Pacific’s operating fundamentals and financial resilience,” he added.
CEB will continue to modernize its fleet this 2026. The airline expects to receive 7 aircraft deliveries while retiring 7 older aircraft. This will retain its fleet size at 100 while increasing the proportion of seats on new generation aircraft. This shift meaningfully enhances the airline’s fuel efficiency, reduces unit costs, and supports sustainable growth.
CEB is now the largest operator of Airbus, A330NEO aircraft in Asia, with its fleet of 14 wide-body aircraft.
Highlights
For full year 2025, domestic passenger traffic increased 8 percent to 20 million, while international traffic increased 14 percent to 6.9 million. Throughout this expansion, CEB maintained a stable load factor, underscoring its disciplined network management and healthy underlying demand.
CEB continues to o er the largest network in the Philippines, consisting of 63 destinations – 37 domestic and 26 international – through 125 routes with over 3,200 weekly flights.
“Our full-year performance reflects the strength and discipline of our operating model and our ability to deliver consistent results in a dynamic market. Over the past year, we strengthened our foundations—improving reliability, expanding our network, and advancing our fleet,” said Michael Szucs, Chief Executive O icer of Cebu Pacific.
“Cebu Pacific continues to democratize air travel in the Philippines through low fares, network expansion, and digital self-service—carrying over 270 million passengers in 30 years and strengthening connectivity across the archipelago. Investments in a young fleet and high-frequency routes have sustained its market leadership, delivering a compelling value proposition that is now integral to everyday life for millions of Filipinos.”
