MANILA, Philippines – Cebu Pacific has announced a record-breaking quarter, with the airline carrying its highest number of passengers ever in a single quarter.
In the second quarter of 2024, the low-cost carrier transported six million passengers, marking a 10% increase compared to the same period last year and surpassing the 5.5 million passengers flown in the first quarter of 2024.
The surge in travel is attributed to a combination of seasonal factors and expanded flight services. Cebu Pacific highlighted increased demand driven by “summer traffic from April to May, school holidays in June, and additional flight frequencies to popular destinations such as Cebu, Davao, and General Santos.” The airline also noted robust travel demand to international destinations including Hong Kong, Japan, Vietnam, and Australia.
The high passenger volume significantly boosted Cebu Pacific’s financial performance. The airline reported Q2 revenues of P26.1 billion, with the passenger segment contributing P18 billion, a 13% increase year-on-year. Additionally, revenue from the ancillary business grew by 16% to P7 billion, while the cargo business saw a 59% increase, reaching P1.4 billion.
Cebu Pacific is also undertaking a quasi-reorganization to address past financial losses and is preparing to finalize a historic deal for the acquisition of 152 new aircraft.
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