CEB records P25.3-B revenue in Q1

Cebu Pacific (CEB) generated P25.3 billion in revenue in the first quarter of 2024, a 21% increase over the same time the previous year.

Strong growth in the passenger business resulted in revenue of about P18 billion, up 25% from the previous year.

CEB carried more than 5.5 million passengers between January and March, increasing 3% from the previous quarter and 14% from the same time last year.

Returning tourists helped to sustain growth during the Christmas and Easter breaks, as well as other Philippine holidays and festivities.

Along with the inauguration of the Manila-Dang line and increasing the frequency on popular routes, this expanded the network's global reach.

Similar to the previous year, ancillary business had a 14% increase in revenue, or about P6.2 billion, because of an increase in passengers.

With CEB carrying 35 million kilograms of freight, a 16% increase from the previous year, the cargo industry also demonstrated improvement.

11% more money was made during this time last year, or over P1.3 billion.

Due to a rise in flying operations and fleet-related expenses, operating expenses came to over P23 billion, an increase of 15% from the previous year.

CEB operated 14% more flights during the same time frame as the previous year.

Additionally, we added 17 more aircraft to the fleet in order to maintain expansion while enhancing operational resilience and reliability.

For the first quarter, CEB reported operational income of P22.6 billion, an increase of 114% over the previous year.

Similarly, net income increased by 108% compared to the same time the previous year, totaling more than P2.2 billion.

"As Cebu Pacific steps into 2024, the airline is committed to sustaining the positive momentum it has started in the past year. Given its widest network in the Philippines, with over 35 domestic and 24 international destinations, we will continue our mission to provide safe, reliable, and affordable flights to every Juan," said Cebu Pacific Chief Financial Officer Mark Cezar.