MANILA, Philippines--Cebu Pacific said it could still grow its revenue and passenger volume despite soaring jet fuel costs.

The budget airline intends to do this through cost and revenue management measures supported by some technology solutions.

"We flew 5.5 million passengers last year and this year, we may exceed 7 million passengers. Last year we made P15 billion in revenue and this year we are going for P20 billion. The first three months have been good so we are on track," airline president and CEO Lance Gokongwei told reporters in a briefing.

"But there will be headwinds," he warned. "First, jet fuel prices are already 80-percent higher in the first quarter of this year compared with the first quarter of last year. The second is recession, which some say is already happening in the US."

Cebu Pacific will raise local airline ticket prices by P50 to P100 starting April 18 after getting a provisional approval from the Civil Aeronautics Board (CAB). Rival Philippine Airlines (PAL) went ahead on March 28 with a P100 increase for domestic routes after a similar approval due to rising oil prices.

Gokongwei said the airline was already addressing higher jet fuel prices through fuel hedging and imposing higher surcharges in domestic and regional routes.