Cebu Pacific saw a significant increase in passenger traffic in 2024, carrying 24.5 million travelers, a 17.6% rise from the previous year’s 20.9 million, driven by strong demand for both domestic and international travel.
The budget carrier reported that domestic traffic made up the bulk of the increase, with 18.5 million passengers, reflecting a 15.5% year-on-year rise. International travel surged 24.6%, reaching 6 million passengers.
December 2024 was a standout month, with the airline recording 2.6 million passengers, a 31.4% jump compared to the same month in 2023. Domestic travel alone surged 32%, bolstered by increased demand during the Christmas holiday season. International traffic also saw a 29.5% growth, driven by additional flights and capacity to destinations like Japan, Vietnam, Thailand, and Hong Kong.
Cebu Pacific’s overall seat capacity grew 17.1% to 29.1 million seats, with the airline maintaining an average seat load factor of 84.4%.
CEO Mike Szucs highlighted that the airline is well-positioned to capitalize on the Philippines’ economic growth and strong travel demand. “Cebu Pacific is strategically positioned to take advantage of the Philippines’ economic growth and robust travel demand,” he said.
He also noted that demand had been absorbed into the market, with stable to positive load factors in the fourth quarter. “The increased growth rate through fourth quarter 2024 has already been absorbed by the market, with load factors stable to positive versus the previous year.”
“We will continue to focus on the reliability and stability in our operations through our ongoing management of powdered metal issues with Pratt & Whitney and, at the same time, (optimize) our capacity to serve the increase in consumer demand,” Szucs added.