Cebu Pacific is looking to sustain its rapid expansion into 2025, driven by aggressive fleet growth, network expansion, and strategic investment in key hubs across the Philippines, company executives said Thursday during the airline’s annual stockholders’ meeting.
“Our work over the past couple of years has placed Cebu Pacific in a position to take advantage of the Philippine growth story,” said Lance Gokongwei, Cebu Pacific chairman. “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.”
The budget airline capped 2024 with record-breaking passenger numbers and a consistently strong seat load factor, boosting revenue to ₱104.9 billion — a 16 percent increase from the previous year. Passenger revenue climbed to ₱71.3 billion, up 14 percent year-on-year. However, net income fell to ₱5.4 billion, down 31.64 percent from ₱7.9 billion in 2023, amid continued investments to support long-term growth.
To reinforce its operational resilience and meet rising demand, Cebu Pacific took delivery of 17 new aircraft in 2024 and made major investments in expanding its domestic hubs. These initiatives aim to improve connectivity and provide more Filipinos with access to affordable air travel.
Michael Szucs, chief executive officer of Cebu Pacific, said that these investments have been instrumental to the airline’s growth momentum. “By seizing these opportunities, we have not only outpaced competition but also solidified our position as industry leader,” Szucs said.
The airline’s aggressive growth strategy allowed it to capture the top spot in the Philippine international market while further cementing its domestic leadership last year.
Szucs expressed confidence in the company’s continued trajectory, noting that market absorption of increased capacity in early 2025 already points to sustained growth and an improving financial outlook. He also underscored the broader potential of Philippine aviation, supported by strong economic, geographic, and demographic fundamentals.
Backing this long-term vision is Cebu Pacific’s historic aircraft order for up to 152 jets signed in 2024 — a clear statement of its commitment to power national development and maintain leadership in the years ahead.
