Cebu Pacific Inc. (CEB) is on track to return to profitability this year despite reducing its passenger growth target.
“We anticipate profitability this year,” said Michael Szucs, CEB chief executive officer.
The airline expects to end the year with 22 million passengers, lower than its initial target of 24 million, said Szucs.
The carrier expects to serve 24 million passengers by next year as it anticipates the delivery of 15 additional aircraft in 2024 to address the continued surge in travel demand.
CEB continues to ramp up its global reach as it increases its international capacity to 63 percent of its pre-pandemic level.
CEB said it will end 2023 with over 700,000 more international seats than last year. The airline currently flies to 25 international destinations, the newest of which is Da Nang, Vietnam, which will start operations on December 7.
In support of this expansion, CEB has so far accepted 12 aircraft deliveries and it expects to receive seven more before the end of 2023 to meet the increasing demand for air travel and strengthen its operational resiliency.
CEB’s fleet expansion allows the airline to provide low-fare travel options across its expanding network, ensuring accessible and affordable air travel.
To encourage passengers to travel, CEB has an ongoing seat sale until October 15 which allows passengers to book their flights to select domestic and international destinations for as low as P88 one-way base fare, exclusive of surcharges and other fees.
