As the airline eyes 2025, its focus shifts toward deeper network expansion and improved profitability amid sustained demand for travel.
The airline generated P104.9 billion in total revenues, up 16 percent year-on-year, driven by robust performance across all business units.
While net income dipped to P5.4 billion due to higher fleet and financing costs, Cebu Pacific’s operating momentum and strong market share signal resilience heading into 2025.
It ended the year with 98 aircraft and now commands over half of the domestic air travel market.
Management’s view
"We have always been optimistic about the potential of Philippine aviation, driven by the country’s strong economic, geographic, and demographic advantages. Strategic investments in our fleet and hubs have been key to Cebu Pacific’s growth,” said Cebu Pacific chief finance officer Mark Cezar.
“By capitalizing on these opportunities early, we’ve positioned ourselves as leaders in both the domestic and international markets. This solid foundation gives us great confidence as we look ahead to 2025, where we anticipate continuing our rapid growth and improving both operational and financial performance,” he added.
Key 2024 financial highlights:
• Passenger revenues rose 14 percent to P71.3 billion, fueled by 24.5 million passengers and new route launches.
• Ancillary revenues reached P28 billion, up 16 percent, from services like baggage and seat selection.
• Cargo business surged 39 percent to P5.6 billion, driven by network improvements and demand recovery.
• Operating income increased 7 percent to P9.2 billion despite rising expenses; operating margin at 9 percent.
• Net income dropped to P5.4 billion from P7.9 billion, mainly due to higher aircraft and financing costs.
