CEBU Pacific (CEB) generated a total revenue of P23.3 billion for the third quarter of 2023, 39 percent higher year-on-year and 23 percent above the same period in 2019.
This was on the back of over 5.3 million passengers flown on 35,000 flights, which are 27 percent and 18 percent higher year-on-year, respectively.
Seat load factor improved to 83.7 percent, 9.7 percentage points higher year-on-year. CEB grew its international operations steeply, as it flew over 1.3 million passengers for the quarter, a 228 percent increase year on year.
CEB’s international network recovery continued to gain traction, especially with the opening of more North Asian countries such as Japan, Taiwan and Hong Kong. Meanwhile, domestic travel remained strong.
CEB flew four million domestic passengers during the quarter, up five percent year on year and already above pre-pandemic levels.
CEB saw a notable increase in travel demand in the third quarter, attributable to the change in school calendars, which shifted graduation and school breaks toward the months of June to August.
This strengthened travel demand not only for domestic but also for international markets, particularly evident on routes with a high overseas Filipino worker population.