Cebu Pacific (CEB), the Philippines’ leading airline, reported a 10% year-on-year increase in total revenue for the first quarter, driven by an increase in seat capacity and sustained passenger demand.
Total revenue for the quarter rose to P33.3 billion, supported by a 10% increase in seat capacity and sustained passenger demand across both domestic and international markets. CEB carried 7.5 million passengers, up 8% year-on-year, while maintaining a healthy seat load factor of 83.7%, reflecting effective capacity deployment and stable travel demand, said CEB spokesperson Carmina Romero.
Passenger revenue increased 6% to P22.5 billion, while ancillary revenue rose 19% to P9 billion, driven by continued improvements in ancillary yields. The airline’s cargo business also expanded, with cargo revenue growing 8% year-on-year to P1.8 billion, supported by higher widebody capacity.
Romero said EBITDA rose 26% year-on-year to ?8.4 billion, while operating income increased 54% to P3 billion. Cost discipline and improved operating efficiencies partially offset higher operating costs associated with fleet and capacity expansion.
Core profitability improved, with core income before tax increasing to P1.3 billion from P325 million last year. Quarter-end peso depreciation resulted in non-core foreign exchange losses of P1.8 billion, resulting in a net loss of P400 million versus net income of P466 million in the prior year, she added.
Cebu Pacific ended the quarter with 101 aircraft in its fleet and a strong liquidity position, closing March 2026 with over P23 billion in cash, providing ample flexibility to manage near-term volatility while supporting strategic initiatives.
“Our first-quarter performance reflects the strength of our network and disciplined capacity deployment,” said Mike Szucs, Chief Executive Officer of Cebu Pacific. “As we navigate a more volatile operating environment amid higher fuel prices, we are taking a more cautious and measured approach focused on margin protection, prudent capacity deployment, and liquidity preservation. Our scale, fleet efficiency, and strong domestic network position us well to navigate near-term uncertainty while continuing to build long-term value.”
