Cebu Pacific, a leading airline in the Philippines, has reported impressive third-quarter revenues of P23.3 billion. This represents a 39% increase compared to the same period last year and a 23% increase compared to 2019. The airline flew over 5.3 million passengers on 35,000 flights during this period, marking a 27% and 18% increase respectively.
CEBU Pacific generated a total revenue of P23.3 billion for the third quarter of 2023, 39% higher year-on-year and 23% above the same period in 2019. This was on the back of over 5.3 million passengers flown onboard 35,000 flights, which are 27% and 18% higher year-on-year, respectively. Seat load factor improved to 83.7%, 9.7 percentage points higher year-on-year.CEB grew its international operations steeply, as it flew over 1.3 million passengers for the quarter, a 228% increase year on year.
CEB saw a notable increase in travel demand in the third quarter, attributable to the change in school calendars, which shifted graduation and school breaks from June to August. This strengthened travel demand not only for domestic but also for international markets, particularly evident on routes with a high OFW population. Operating expenses, on the other hand, totaled almost P21 billion, both higher than last year and 2019 by 5% and 16%, respectively.
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