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Cebu Pacific sees robust demand

/ 02:38 AM August 29, 2016

CEBU Pacific Air, the country’s biggest budget airline, is tracking double-digit growth in advanced bookings in the coming months, indicating continued robust demand for air travel.

Specifically, the carrier noted that three-month forward bookings as of Aug 8, 2016, was up 10.8 percent, based on a presentation to investors. Cebu Pacific said that accounted for 23.6 percent of total available seats.

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The figures come as Cebu Pacific saw passenger traffic jump 9 percent to 10 million in the first half of 2016. That represented half of the 20 million passengers the Gokongwei-family controlled carrier planned to serve for the whole year. The full-year figure was about a tenth higher than its passenger volume in 2015.

Expansion moves, coupled with lower fuel prices, have been a boon for Cebu Pacific and other airlines worldwide.

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Cebu Pacific recently disclosed that net income in the six months through June this year hit P7.7 billion, up by almost half compared to the same period last year. Revenues jumped 12.2 percent to P33 billion.

Cebu Pacific also recently announced three new domestic routes out of Cebu to cater to the increasing inter-island travel demand in the Visayas region. Beginning Nov. 19 this year, the airline will be operating daily flights between Cebu and Ormoc (Leyte) and Cebu and Roxas (Capiz), and four times weekly flights between Cebu and Calbayog (Samar).

Cebu Pacific will also be operating direct, daily flights between Kalibo and Incheon, South Korea, effective Oct. 1, 2016. At present, the carrier’s network spans more than 100 routes on 36 domestic and 30 international destinations, including Asia, Australia and the Middle East.

Its 57-strong fleet is comprised of seven Airbus A319, 36 Airbus A320, six Airbus A330 and eight ATR 72-500 aircraft.

Between 2016 and 2021, Cebu Pacific expects delivery of 32 Airbus A321neo, two Airbus A330, and 16 ATR 72-600 aircraft orders. In its presentation to investors, the carrier said seven A319s would be sold between 2016 and 2018 while another seven leased A320 planes would be returned in 2018 and 2019.

Among its new long-haul plans were direct flights to Melbourne, Australia and Honolulu, Hawaii in the United States, Cebu Pacific CEO Lance Gokongwei said in an earlier interview.

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TAGS: Business, Cebu Pacific, economy, News
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