Cebu Pacific Claims Country's Leading Domestic Carrier Title with 57% Market Share in 2022
Cebu Pacific is well on its way to full recovery after posting stellar numbers for 2022. Based on data from the Civil Aeronautics Board, the airline owned by the Gokongwei Group flew 13.5 million domestic passengers last year, up 312 percent from 2021 and enough to give it a commanding 57 percent domestic market share. That’s up five percentage points from 2019’s 52 percent.
Adding the numbers from its international operations, Cebu Pacific flew a total of 14.8 million passengers in 2022, an 335 percent increase from the previous year and a total seat load of 75 percent.
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The airline has yet to report its full 2022 earnings, although for the first nine months of 2022, it posted gross revenues of P37.5 billion, a 310 percent increase from 2021’s P9.15 billion. It also stemmed its net loss 45 percent, from P22 billion in 2021 to just P12.04 billion in 2022.
In a statement, the airline said higher travel demand both domestically and internationally, coupled with the easing of various travel regulations, drove the steep recovery for CEB in 2022.
In the fourth quarter, CEB flew 4.4 million passengers, or six percent higher quarter-on-quarter, for a seat load of 78 percent, up 3.6 percentage points from the previous quarter as the holiday peak season encouraged a further uptrend in travel demand for both domestic and international destinations.
“Key destinations such as Japan, South Korea and Taiwan, also eased their travel restrictions during the quarter, enabling the airline to accelerate recovery of its international network,” the statement said. “Hong Kong, one of CEB’s largest markets, also lifted its mandatory quarantine requirements in December.”
The airline said all signs point to a full recovery in 2023 and expects to restore 100 percent of its network to pre-pandemic levels “aided by its unbeatable seat sales, widest domestic network, and reinstatement of all its international destinations.”
The company also recently announced that it would lease five new aircraft this year on top of the 10 new Airbus NEO aircraft that will be delivered this 2023 to address capacity and passenger demand.
“Three of the aircraft will be used to re-start the Clark base. The two other aircraft will be used to support overall growth ambitions as CEB recovers fully from the pandemic," said Xander Lao, Cebu Pacific President and Chief Commercial Officer.
Esquire Philippines is published by Summit Media, which, like Cebu Pacific is also under the Gokongwei Group of Companies.