Cebu Pacific on Thursday said it is aiming to sustain its rapid growth in 2025, fueled by its expanding fleet and network.
“Our work over the past couple of years have placed Cebu Pacific in a position to take advantage of the Philippine growth story, and we are confident that our airline will continue to reach new highs – on the back of the outstanding work of the organization, other stakeholders, and of course, your unwavering support,” Lance Gokongwei, Cebu Pacific chairman said during the company’s annual stockholders’ meeting.
The company finished 2024 with significant growth in revenues through record breaking passenger numbers and a consistently strong seat load factor throughout the year.
Cebu Pacific generated total revenues of P104.9 billion last year, a 16-percent increase year-on-year.
This was driven by its passenger business, which generated P71.3 billion, or 14 percent higher than in 2023.
The company’s net income, however, fell 31.64 percent to P5.4 billion last year from P7.9 billion in 2023.
To support its growth and ensure operational resilience amid industry challenges, Cebu Pacific took delivery of 17 aircraft in 2024 and pushed forward with the development of hubs across the country, to ensure that more people have access to affordable air travel.
Michael Szucs, Cebu Pacific chief executive noted how these strategic investments in hubs and aircraft have been key catalysts to its growth.
“By seizing these opportunities, we have not only outpaced competition but also solidified our position as industry leader,” Szucs said.
In 2024, Cebu Pacific’s growth strategy enabled it to become the leader in the Philippine international market, while strengthening its leadership in the domestic market.
Szucs expressed confidence in Cebu Pacific’s continued growth in 2025, noting how early months of 2025 show that the market is already absorbing the additional capacity, and how this will also strengthen the company’s overall financial position.
He expressed optimism in the long-term growth potential of Philippine aviation, driven by the country’s economic, geographic and demographic advantages.
Underpinning this view is Cebu Pacific’s historic order for up to 152 aircraft signed in 2024, showing its commitment to supporting the Philippines’ continued growth and development, and securing its leadership position well into the next decade.
