Gokongwei’s Cebu Pacific soars in Q1 earnings, passenger volume up 14%

May 8, 2024
4:34PM PHT

Cebu Pacific operator Cebu Air Inc. reported a 108 percent profit surge to P2.2 billion during the first quarter of the year on robust travel demand.

Gains came on the back of a 21 percent jump in total revenue to P25.3 billion, supported by passenger revenues of almost P18 billion, a 25 percent increase. 

The budget carrier flew over 5.5 million passengers during this period, up 14 percent year-on-year. The performance was bolstered by seasonal travel peaks and the introduction of new routes like Manila to Danang. 

Additionally, ancillary revenues grew by 14 percent to over P6.2 billion, while cargo operations contributed almost P1.3 billion, a 16 percent increase in cargo volume and a 1 percent increase in revenue.

Mark Cezar
Cebu Pacific CFO
"As Cebu Pacific steps into 2024, the airline is committed to sustaining the positive momentum it has started in the past year. Given its widest network in the Philippines, with over 35 domestic and 24 international destinations, we will continue our mission to provide safe, reliable, and affordable flights to every Juan,"  Cebu Pacific chief financial officer Mark Cezar said in a statement on Wednesday.
About the author
Miguel R. Camus
Miguel R. Camus

Miguel R. Camus has been a reporter covering various domestic business topics since 2009.

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