Cebu Pacific Air said it expects to carry 22 million passengers this year on the back of higher domestic and international inbound tourists.
The target represents a 12-percent increase over 19.7 million passengers flown last year.
Growth in domestic travel was relatively flat year-on-year. However, the number of international passengers expanded almost 8 percent in 2017, with strong performance in key markets such as 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,” Cebu Pacific vice president for corporate affairs JR Mantaring said.
“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.
Mantaring said Cebu Pacific was also committed to transforming the customer experience and enhancing safety through continuous investments in technology and facilities as well as process improvements.
Cebu Pacific posted a net income of P7.9 billion in 2017, with passenger revenues up 7 percent and ancillary revenues”•including baggage allowance, seat selection and pre-ordered meals”•up 15 percent year-on-year.
It said while fuel costs were over 20 percent higher in 2017, the average fare was up just 4 percent in 2017.
Cebu Pacific expects delivery of three brand-new Airbus A321ceo (current engine option) 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 (new engine option), with deliveries starting this year until 2022.