Mon, 30 April 2018

Cebu Pacific Sets Target of 22 Million Passengers for 2018

Cebu Pacific has set a target of flying 22 million passengers in 2018, aligned with the increase in domestic and international inbound tourists.

 The target is 12% over the actual number of passengers flown in 2017.

Last year, Cebu Pacific flew 19.7 million passengers, up 3% year-on-year. Growth in domestic travel was relatively flat year-on-year. However, the number of international passengers expanded almost 8%, with strong performance in key markets like Sydney, Dubai, Hong Kong, Narita, Taipei and Incheon.

Cebu Pacific Airbus A321ceo. Click to enlarge.

“Despite the challenges posed by higher prices of petroleum products, the weakening of the Peso versus the US Dollar, security concerns and travel advisories, we have remained relatively resilient. To reach our goal of flying 22 million passengers this year, we remain committed to offering a compelling route network where we can meet rising demand and sustain our year-round low fare proposition,” said Atty. JR Mantaring, Vice President for Corporate Affairs of Cebu Pacific. “We are also committed to transforming the customer experience and enhancing safety through continuous investments in technology and facilities as well as process improvements.”

Cebu Pacific posted a net income of PHP7.9 billion (approximately USD152,788) in 2017, with passenger revenues up 7% and ancillary revenues - including baggage allowance, seat selection and pre-ordered meals - up 15% year-on-year. Fuel costs were over 20% higher in 2017 and the average fare was up just 4% in 2017.

Cebu Pacific is expecting delivery of another three brand-new Airbus A321ceos (pictured) in the coming days, adding to its current fleet of 62 aircraft. The carrier invested USD4.9 billion for a total of seven Airbus A321ceos and 32 Airbus A321neos, with deliveries starting this year until 2022.

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