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Cebu Pacific sets sky high target

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SINGAPORE 2 May 2018: Cebu Pacific Air aims to fly 22 million passengers in 2018, a target that will require a 12% increase in passengers flown when compared with 2017.

Last year, Cebu Pacific flew 19.7 million passengers, up 3% year-on-year. Growth in domestic travel was relatively flat year-on-year.

However, international passenger traffic increased almost 8%, with strong performance in key markets such as Sydney, Dubai, Hong Kong, Narita, Taipei and Incheon.

“Despite the challenges posed by higher fuel prices the weakening of the Peso versus the US Dollar, security concerns and travel advisories, we have remained relatively resilient,” said, Cebu Pacific vice president for corporate affairs, Atty JR Mantaring.

“To reach our goal of flying 22 million passengers this year, we remain committed to offering a compelling route network where we can meet rising demand and sustain our year-round low fare proposition.”

The closure of Boracay island, 26 April, forced the airline to divert flights from the two airports serving the island to other beach destinations in the Philippines, which could make it more difficult to reach passenger traffic targets. Around 1 million people visited the island last year mainly from South Korea.

CEB posted a net income of PHP 7.9 billion (approximately USD 152,788) in 2017, with passenger revenues up 7% and ancillary revenues—including baggage allowance, seat selection and pre-ordered meals, up 15% year-on-year. While fuel costs were over 20% higher in 2017, the average fare increased just 4% in 2017.

Cebu Pacific is expecting delivery of another three brand-new Airbus A321s in the coming days, adding to its current fleet of 62 aircraft. The carrier invested USD 4.9 billion in seven Airbus A321CEO and 32 Airbus A320s, with deliveries starting this year until 2022.

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