Cebu Pacific Records 228% Increase in International Passengers in Third Quarter

Manila, Philippines – Cebu Pacific (CEB), a low-cost carrier, reported a significant 228 percent increase in international passenger numbers in the third quarter of 2023, compared to the same period in 2022. The Gokongwei-led airline flew 1.3 million international passengers, attributed to the continued recovery of its network and the reopening of more countries. The airline observed heightened travel demand, particularly on routes frequented by overseas Filipino workers.

According to Philippines News Agency, in addition to international travel, CEB also experienced a 5 percent year-on-year increase in domestic passengers, with about four million people flying domestically. This rise in travel demand coincided with changes in school calendars, including graduation ceremonies and school breaks from June to August. Overall, CEB operated 35,000 flights during the quarter, an 18 percent increase year-on-year. The airline also reported an improved seat-load factor of 83.7 percent.

CEB’s Chief Finance Officer Mark Cesar expressed optimism about the airline’s future growth. The airline’s total revenue for the third quarter stood at PHP23.3 billion, a 39 percent increase year-on-year and 23 percent higher than in the third quarter of 2019. Operating expenses reached almost PHP21 billion, primarily due to higher fuel costs and fleet-related expenses from additional aircraft. The net income for the quarter was PHP1.3 billion.