CEB aims to fly 22M passengers in 2018

CEBU Pacific Air (CEB) aims to fly 22 million passengers in 2018, aligned with the increase in domestic and international inbound tourists. The target is 12 percent over the actual number of passengers flown in 2017.

For 2017, Cebu Pacific flew 19.7 million passengers, up three percent year-on-year. Growth in domestic travel was relatively flat year-on-year. However, the number of international passengers expanded almost eight percent in 2017, with strong performance in key markets like Sydney, Dubai, Hong Kong, Narita, Taipei and Incheon.

“Despite the challenges posed by higher prices of petroleum products, the weakening of the peso versus the US dollar, security concerns and travel advisories, we have remained relatively resilient,” said lawyer JR Mantaring, vice president for corporate affairs of Cebu Pacific.

CEB posted a net income of P7.9 billion in 2017, with passenger revenues up seven percent and ancillary revenues—including baggage allowance, seat selection and pre- ordered meals—up 15 percent year-on-year. While fuel costs were over 20 percent higher in 2017, the average fare was up just four percent in 2017.

The carrier invested $4.9 billion for seven Airbus A321CEO and 32 Airbus A321NEO. (PR)

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