As 2024 approaches its final days, many are reflecting on the events of the year. For Cebu Pacific, it will be a year of milestones and progress, marking achievements that set the stage for further growth. The year 2024 became a period of many milestones for Cebu Pacific, marking a range of achievements that defined its growth. They owned the year 2024, especially after emerging from a devastating pandemic that lasted until 2022. So how was 2024 for Cebu Pacific?
The year 2024 turned into a remarkable period of growth for Cebu Pacific. The airline came into the year with clear goals: expand its network, grow its fleet, and improve passenger services. Cebu Pacific achieved these despite facing global challenges like supply chain disruptions and engine recalls. These issues particularly impacted their Airbus A320neo and A321neo planes due to Pratt & Whitney engine problems. Cebu Pacific responded by leasing additional aircraft and accelerating deliveries to meet demand and operational requirements.
Fleet Growth
Cebu Pacific made notable progress in growing its fleet. Between January 2024 and December 2024, the airline received 15 new planes, with three more expected before the end of the year. These aircraft deliveries unfolded as follows:
- Three aircraft deliveries in the first quarter
- Five aircraft deliveries in the second quarter
- Four aircraft deliveries in the third quarter
- Three aircraft deliveries in the fourth quarter, with three more expected by year-end
This makes 2024 a historic year for Cebu Pacific, with a total of 18 aircraft deliveries—a record for any Philippine airline. The fleet now stands at 92 aircraft, and Cebu Pacific aims to close 2024 with 95 planes. This expansion aligns with its purchase agreement with Airbus for up to 152 aircraft, the largest in Philippine aviation history. This includes firm orders for 102 A321neo and purchase rights for 50 additional A320neo Family aircraft, with deliveries expected no later than 2029.
Network Growth
Cebu Pacific also achieved remarkable growth in its operations. From January 2024 to December 2024, the airline expanded its systemwide network from 103% to 130% of pre-pandemic levels. The number of seats offered grew from 2.3 million to 2.9 million, while flights increased from 12,000 to 15,000. The airline’s routes also expanded from 104 to 116, providing more travel options for passengers.
The airline’s regional hubs outside Metro Manila also saw substantial growth. The Cebu hub increased seat capacity by 67% and flight frequency by 54%. The Clark hub recorded a 102% rise in seats and a 97% increase in flights. Davao’s seat capacity grew by 81%, with flight frequency rising by 57%, while the Iloilo hub expanded by 67% in seats and 54% in flights. These improvements made air travel more accessible across the Philippines.
Forward Decisions Based on Accurate Data and Forecasts
Cebu Pacific’s accomplishments are supported by the projected growth of the Philippine travel market. The country’s young and growing population and its strategic location in Asia continue to attract tourists. Additionally, upcoming infrastructure projects, such as the Bulacan and Sangley Point airports, will further enhance connectivity and support increased travel demand.
Cebu Pacific’s performance in 2024 reflects its ability to navigate challenges while achieving growth. With an expanding fleet, improved operations, and enhanced regional connectivity, the airline strengthened its position as a leader in Philippine air travel. Cebu Pacific’s focus on promoting tourism in the Philippines, maintaining an efficient young fleet to offer affordable fares, and making air travel accessible from different points in the country underscores its commitment to serving its market.
While some may hope to see Cebu Pacific flying longer distances, such as to mainland United States and Europe, the airline’s business model remains focused on flights within a four-hour radius of its hubs, except for destinations in the Middle East and Australia. Cebu Pacific CEO Mike Szucs confirmed that transpacific flights are not in their plans, as they require a different business approach.
But who knows. Maybe not as Cebu Pacific, but as a different and more premium subsidiary airline of Cebu Air Inc. I have my hopes high on them.
First love never dies. I fell in love with airplanes and aviation when I was a kid. My dream was to become a pilot, but destiny led me to another path: to be an aviation digital media content creator and a small business owner. My passion for aviation inspires me to bring you quality content through my website and social accounts. Aviation is indeed in my blood and blog!
