CEBU AIR, Inc., the listed operator of budget carrier Cebu Pacific, said its passenger volume rose by 2.6% to 1.83 million in the third quarter (Q3), supported by strong domestic travel demand.
“The airline is entering the fourth quarter with stronger aircraft availability and greater capacity — adding flight frequencies and deploying widebody aircraft on high-demand routes — to better capture the anticipated surge in holiday travel and optimize revenue performance,” Cebu Pacific President and Chief Commercial Officer Alexander G. Lao said in a statement on Wednesday.
The company attributed the growth in domestic passenger volume to higher capacity and sustained demand across its network.
Cebu Pacific’s seat load factor, which measures the percentage of occupied seats, stood at 81.1% in the third quarter, slightly lower than the 82.6% a year earlier, following a 4.4% expansion in total seat capacity.
Broken down, domestic passenger traffic rose by 1.3% to 1.38 million from 1.36 million a year earlier, while international traffic increased by 6.7% to 446,000 from 418,000 previously.
“September’s results reflected the typical lean travel period in the Philippines, which we use strategically to complete aircraft maintenance and prepare our fleet for the peak season,” Mr. Lao said.
For the nine months to September, passenger traffic climbed by 13.9% to 19.95 million from 17.51 million in the same period last year.
Domestic passengers rose by 12.7% to 14.88 million, while international passengers grew by 17.7% to 5.07 million.
For the first half, Cebu Air’s attributable net income more than doubled to P8.97 billion from P3.55 billion a year ago, as gross revenues rose by 23.1% to P63.33 billion.
Passenger revenues accounted for P44.23 billion, while cargo and ancillary revenues contributed P3.51 billion and P15.59 billion, respectively.
At the local bourse on Wednesday, shares in Cebu Air slipped by 1.11% or 35 centavos to close at P31.05 apiece. — Ashley Erika O. Jose