Cebu Pacific expects delivery of 5 new aircraft in Q2

Gokongwei-led budget carrier Cebu Pacific on Wednesday said it is expecting the delivery of five aircraft this second quarter with more coming throughout the year, as it aims to end the year with 95 aircraft and boost its seat capacity by as much as 15%.

In a virtual briefing on the PSE STAR Investor Day, Cebu Pacific investor relations director Trina Asuncion said the firm is expecting a total of 18 deliveries this year.

“Considering exits and lease returns, we expect to close the year with 95 aircraft which will boost our full-year 2024 seat capacity by 12% to 15% compared to 2023,” she said.

The 95 aircraft Cebu Pacific targets to have under its fleet by the end of the year will be made up of 16 ATRs, 51 Airbus NEOs, and 28 Airbus CEOs.

This compares with its fleet of 85 aircraft in 2023 which included 16 ATRs, 38 Airbus NEOs, and 31 Airbus CEOs.

The carrier said it flew a total of 5.5 million passengers in the first quarter, up by 14% year-on-year, and 3% higher than the previous quarter, which it attributed to the Easter break and the Taylor Swift concert in Singapore.

It flew 4 million domestic passengers which reflected a 5% year-on-year growth covering 35 destinations, 66 routes, and over 2,300 weekly flights.

Cebu Pacific said it also flew 1.5 million international passengers during the period, marking a 53% annual growth covering 25 destinations, 33 routes, and over 500 weekly flights.

“Looking ahead to the second quarter, we see some positive trends emerging. With the summer season approaching and shifts in school breaks, we expected a gradual uptick in domestic leisure travel,” Cebu Pacific president and chief commercial officer Xander Lao said in the same briefing.

“Additionally, we expect traffic on routes serving key destinations for overseas Filipino workers of OFWs, as many plan to return home for their loved ones’ graduation ceremonies,” he added.

The carrier ended the first quarter of the year with a P2.24-billion net earnings, doubling the P1.08 billion the same period last year as total revenues jumped by 21% to P25.3 billion. —VAL, GMA Integrated News