Budget airline Cebu Pacific (CEB) more than doubled its net income to P12.3 billion in 2025 from P5.4 billion a year ago, driven by higher passenger volumes, stronger ancillary revenues, and gains from non-core items.

The company informed the stock exchange on Monday that revenue rose 14 percent year-on-year to a record P119.9 billion, with passenger revenue climbing 13 percent to P80.8 billion as the airline flew a record 26.9 million passengers, up 10 percent, supported by an 84.0 percent seat load factor. 

Ancillary revenue increased 14 percent to P32.0 billion, while cargo revenues jumped 27 percent to P7.2 billion on the back of 215 million kilos carried.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew 21 percent to P30.9 billion, lifting margins to 26 percent. Operating income rose 25 percent to P11.5 billion, while pre-tax core income surged 54 percent to P4.8 billion.

CEB’s Chief Financial Officer Mark Cezar said investing in larger and more fuel-efficient aircraft helped deliver improved seat economics across the network. 

“Together with our focus on efficiency, this helped mitigate the increased expenses in maintenance, airports, and fleet-related costs due to grounded aircraft,” Cezar said.

This year, CEB said it will continue fleet modernization, expecting seven aircraft deliveries while retiring seven older units, keeping its fleet size at 100 while increasing the share of new generation aircraft.

The airline ended 2025 with a cash balance of P21.7 billion after capital expenditures of P6.4 billion, while total assets reached P264.7 billion against liabilities of P245.7 billion, bringing total equity to P19.0 billion. Net debt stood at P169.7 billion.

Domestic passenger traffic rose 8 percent to 20 million, while international traffic grew 14 percent to 6.9 million.

The airline maintained its market leadership, expanding domestic market share to 56.2 percent and international share to 22.0 percent.

“Our full-year performance reflects the strength and discipline of our operating model and our ability to deliver consistent results in a dynamic market.

Over the past year, we strengthened our foundations—improving reliability, expanding our network, and advancing our fleet,” CEB Chief Executive Officer Michael Szucs said.

The airline operates one of the world’s youngest fleets—14 Airbus A330s, 27 A321s, 39 A320s, and 20 ATR turboprops—supporting extensive domestic and regional coverage. 

CEB currently flies to 37 domestic and 26 international destinations, giving it the widest network of any local carrier.