Published 6 days ago • Cebu, Philippines • Updated 5 days ago

Expansion costs drag Cebu Pacific 2024 income to P5.4B

Summary by Inquirer

MANILA, Philippines – Cebu Pacific saw its net income drop by 32 percent to P5.4 billion last year due to costs related to aircraft fleet expansion. Revenues, however, grew by 16 percent to P104.9 billion as passenger volume climbed by 18 percent to 24.5 million passengers last year. The Gokongwei-led airline took deliveries of 17

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Expansion costs drag Cebu Pacific 2024 income to P5.4B

6 days ago·Manila, Philippines

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Mindanao Times

Cebu Pacific 2024 Revenue Grows 16% to P104.9 billion as Passengers Reach Record High

Cebu Pacific finished 2024 strongly, generating total revenues of P104.9 billion, a 16% increase from last year. This growth was driven by its passenger business, which generated P71.3 billion, 14% higher than 2023. The airline’s ancillary business contributed P28 billion, up 16% from a year ago. Its cargo business generated P5.6 billion in revenue, reflecting a 39% year-on-year increase. CEB carried 24.5 million passengers in 2024, an 18% incre…

5 days ago

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The Filipino Times

Cebu Pacific grows revenue and passenger count in 2024 despite higher costs

Cebu Pacific recorded a 16% increase in total revenue to P104.9 billion in 2024, driven by strong passenger demand and strategic fleet expansion. The airline carried 24.5 million passengers, up 18% from the previous year, while maintaining a solid seat load factor of 84.4%. Despite increased fleet and financing costs leading to a net income …

5 days ago

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timesng.com

Cebu Pacific’s Net Income Falls Amid Fleet Expansion Costs

timesng.com: MANILA, Philippines — Cebu Pacific’s net income plummeted by 32 percent to P5.4 billion in 2024, primarily due to increased expenses associated with its fleet expansion. Despite the income drop, the airline reported a 16 percent rise in revenues to P104.9 billion, driven by a significant 18 percent increase in passenger volume, totaling 24.5 million […] This post Cebu Pacific’s Net Income Falls Amid Fleet Expansion Costs appeared fi…

5 days ago

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bworldonline.com

Cebu Air income down 68% in 2024 on higher expenses - BusinessWorld Online

CEBU AIR, Inc., the operator of budget carrier Cebu Pacific, reported a net income of P2.64 billion for 2024, down 68.3% from P8.34 billion in 2023, as rising costs outpaced revenue growth. In its regulatory filing on Thursday, Cebu Air said total revenues grew 15.4% to P98.19 billion from P85.09 billion in 2023. Passenger revenue increased 13.5% to P65.15 billion from P57.4 billion, while cargo revenue rose to P5.54 billion. Ancillary revenue…

5 days ago

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