Cebu Pacific, the Philippines’ largest low-cost carrier, on Thursday reported a 17.6 percent increase in passenger traffic for 2024, reflecting robust travel demand and the country’s thriving economy. The Gokongwei-led airline carried a total of 24.5 million passengers last year, up from 20.9 million in 2023.
Domestic traffic accounted for the majority of growth, with 18.5 million passengers, a 15 percent increase compared to the previous year. International passenger numbers surged by 24.6 percent, reaching 6 million. The airline’s seat load factor (SLF) averaged a strong 84.4 percent, while overall seat capacity grew 17.1 percent, totaling 29.1 million seats.
Cebu Pacific saw a particularly strong performance in December 2024, carrying 2.6 million passengers, a 31.4 percent year-on-year increase. Seat load factor for the month improved to 85.2 percent from 84.8 percent in December 2023, while capacity expanded by 30.7 percent. Domestic traffic surged 32 percent, with a 34.5 percent increase in seat capacity.
The carrier credited strong demand around the holiday period and strategic route expansions for this performance. Notably, Cebu Pacific launched new services from Iloilo and Davao, driving traffic growth. Davao’s new routes to Boracay, Puerto Princesa, and Tacloban boosted hub traffic by 2.4 times year-over-year. Meanwhile, Iloilo’s additional destinations—including Dumaguete, Daraga, and Tagbilaran—led to a 3.3-fold traffic increase.
Internationally, Cebu Pacific saw a 29.5 percent rise in passenger numbers, supported by a 21 percent increase in seat capacity. The airline also improved its international seat load factor by 5.6 percentage points to 84.7 percent, driven by stronger demand from key markets including Japan, Vietnam, Thailand, and Hong Kong.
“We are strategically positioned to capitalize on the Philippines’ economic growth and the continued surge in travel demand,” said Mike Szucs, CEO of Cebu Pacific. “The market has absorbed our increased capacity in the fourth quarter, with load factors stable to positive compared to the previous year.”
Cebu Pacific, which operates one of the youngest fleets globally, continues to manage capacity optimization and operational challenges, including ongoing issues with Pratt & Whitney engines. The airline remains focused on maintaining reliability while expanding its network, which now covers 37 domestic and 26 international destinations.
With a fleet of 98 aircraft, Cebu Pacific is poised to sustain its growth trajectory, capitalizing on the Philippines’ strong travel market and economic expansion.
