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Cebu Pacific recorded healthy revenue growth in 2024
March 28th 2025
In the year to December 31, Cebu Pacific (CEB) booked revenue of 104.9 billion peso (US$1.8 billion), a 16% increase over full-year 2023. Read More » Operating income increased 7% year-on-year, to 9.2 billion peso, delivering a 9% operating margin for the 12 months, the LCC said. Increased fleet and financing costs decreased net income from 7.9 billion peso in fiscal 2023 to 5.4 billion peso in 2024, a 32% decline. CEB flew 24.5 million passengers in 2024, 18% more than in the previous year and booked an overall load factor of 84.4%. CEB captured 54.1% of the domestic market and 20.6% of the international market last year. In the final quarter of 2024, the airline’s domestic market was 58.4% and its international market share increased to 22.5%, securing its position as the leading carrier in the Philippines. “We have always been optimistic about the potential of aviation in the Philippines, driven by the country’s strong economic, geographic and demographic advantages. Strategic investments in our fleet and hubs have been critical to Cebu Pacific’s growth. By capitalizing early on these opportunities, we have positioned ourselves as the leader in domestic and international markets. This solid foundation gives us great confidence. We anticipate continuing our rapid growth and improving our operational and financial performance,” CEB chief finance officer, Mark Cezar, said. FlightGlobal has reported the LCC’s president and commercial chief, Xander Lao, admitted CEB is struggling to recover in China. “China remains one of those countries that has a very poor recovery ratio post-pandemic, with tourist numbers 83% below 2019. From our perspective, we have redeployed some assets planned for China to elsewhere in our network,” he said.
