News
Cebu Pacific 2016 net earnings grow by 122%
March 31st 2017
Manila-headquartered low-cost carrier (LCC) Cebu Pacific Air (CEB) had a successful 2016. The airline’s full-year net profit increased by 122% year-on-year to 9.8 billion pesos (US$195 million), largely on the back of robust demand and ancillary revenue growth. Read More »
CEB carried 19.1 million passengers during the year, 4.1% than in 2015 and its total revenues improved 9.6% year-on-year to 61.9 billion pesos.
“The year 2016 was a great year for Cebu Pacific, as we continue to enable every Juan to fly to more destinations around the Philippines and to key destinations in Asia, the Middle East, Australia and the U.S.,” said CEB’s vice-president for corporate affairs, Paterno S. Mantaring.
“Cebu Pacific remains committed to further increase inter-island connectivity within the Philippines to promote trade and tourism and help more people connect with their families and friends all around the world, while consistently providing our trademark best-value fares,” Mantaring added.
In 2016, CEB served 30 international and 36 domestic destinations with 102 routes and 2,820 weekly flights. With the arrival of new ATR76-600 high-density aircraft, the carrier boosted its intra-island network in the Visayas with flights from Cebu to Ormoc, Roxas and Calbayog and it also launched a Kalibo-Incheon and a Manila-Guam route, its first to U.S. territory.
CEB’s vice-president for fleet and network planning, Xander Lao, has told Orient Aviation the LCC plans to add international services from Caticlan, the gateway to the popular resort island of Boracay, “as soon as an international terminal has been built”.
Caticlan’s Godofredo P. Ramos Airport is operated by TransAire Development Holdings Corp. under a twenty-five-year contract with the Filipino national government.
The LCC was a founding member of the Value Alliance in 2016, the world's largest LCC alliance, which covers Southeast Asia, North Asia and Australia.
CEB now has 59 aircraft. It plans to take delivery of a seventh A330-300 this year, two A321neo and four additional ATR72-600s, while decommissioning three A319s.
The airline’s first five A330s are leased; the sixth and incoming seventh widebody are owned.
The airline was scheduled to receive the first of 30-on-order A321neo in November, already delayed by several months, but this has now been pushed back further due to engine shortcomings, throwing CEB’s 2017 growth plans into disarray.
