BUDGET carrier Cebu Pacific (CEB) flew close to 13.5 million domestic passengers in 2022, up 312 percent from the previous year, indicating strong recovery in both capacity and passenger traffic.
Combined with its international operations, the airline flew over 14.8 million passengers for full year 2022, 335 percent higher year-on-year, for a seat load of 75 percent, which rose 14.7 percentage points year- on-year.
CEB cornered a 57 percent domestic market share for 2022, up five percentage points compared to 52 percent back in 2019, based on data from the Civil Aeronautics Board.
CEB told the local bourse Friday, March 3, 2023, that it attributed the growth to higher travel demand both domestically and internationally, coupled with the easing of various travel regulations.
In the fourth quarter, CEB flew 4.4 million passengers, six percent higher quarter-on-quarter, for a seat load of 78 percent, up 3.6 percentage points quarter on quarter, as the holiday peak season encouraged a further uptrend in travel demand for both domestic and international destinations.
Key destinations such as Japan, South Korea and Taiwan, also eased their travel restrictions during the quarter, enabling the airline to accelerate recovery of its international network. Hong Kong, one of CEB’s largest markets, also lifted its mandatory quarantine requirements in December.
With these, CEB flew over 587,000 passengers to short-haul international destinations in the fourth quarter, an increase of 97 percent compared to the third quarter. Long-haul destinations, namely, Dubai and Sydney, likewise contributed to the growth, posting a 14 percent increase in passenger volume quarter-on-quarter.
CEB flew over 108,300 flights and over 19.7 million seats during the year and ended 2022 at 92 percent of pre-pandemic capacity.
Firmly in place for recovery
In 2023, CEB is firmly in place for full recovery and expects to restore 100 percent of its pre-Covid network and capacity in March, aided by its unbeatable seat sales, widest domestic network, and reinstatement of all its international destinations.
CEB said it will lease five aircraft in 2023 to address capacity and growing passenger demand. These are on top of the 10 new Airbus NEO aircraft that will be delivered in 2023 to expand the airline’s entire fleet.
“Three of the aircraft will be used to re-start the Clark base. The two other aircraft will be used to support overall growth ambitions as CEB recovers fully from the pandemic,” said Xander Lao, Cebu Pacific president and chief commercial officer. (KOC WITH PR)