BUDGET carrier Cebu Pacific aims to fly about 22 million passengers by year-end, as it continues to build up its route network and its portfolio of jets throughout 2018.
Paterno S. Mantaring, the company’s Vice President for Corporate Affairs, said this year’s target—a 12-percent increase from the 19.7 million passengers flown in 2017—will also be bolstered by the tourism agency’s goal of boosting domestic and international inbound tourists this year.
“To reach our goal of flying 22 million passengers this year, we remain committed to offering a compelling route network where we can meet rising demand and sustain our year-round low- fare proposition,” he said on Thursday.
The Gokongwei-led airline is beefing up its route network by strengthening its operations in Clark and Cebu, and slowly expanding its Manila-based flights, depending on the availability of slots. So far, it has launched flights to Batanes, and has redeployed the planes it utilizes for Caticlan and Kalibo to Bacolod, Cagayan de Oro, Cebu, Iloilo, Legazpi, Tacloban, Davao and Puerto Princesa.
It plans to launch flights to Melbourne from Manila, and add more frequency to its Manila-Dubai route.
Cebu Pacific flew 19.7 million passengers in 2017, a mere 3-percent growth from 2016. This was mainly buoyed up by the 8-percent increase in the number of international passengers, 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,” Mantaring said.
Cebu Pacific is expecting delivery of three more brand-new Airbus A321ceos in the coming days, adding to its current fleet of 62 aircraft.
The carrier invested $4.9 billion for a total of seven Airbus A321ceo and 32 Airbus A321neo, with deliveries starting this year until 2022.
“We are also committed to transforming the customer experience and enhancing safety through continuous investments in technology and facilities, as well as process improvements,” Mantaring said.
Profits of Cebu Air Inc., the operator of budget carrier Cebu Pacific, dropped by 18.9 percent to P7.91 billion, from the P9.75 billion it registered the year prior, no thanks to the rise in jet-fuel prices and losses from the weak peso-dollar exchange rate last year. Revenues for the period rose by 9.9 percent to P68.03 billion, from P61.9 billion, while expenses grew by a faster 16.6 percent to P57.9 billion, from P49.65 billion.
Shares in Cebu Air declined by 1 percent to close at P86.95 apiece on Wednesday.