Cebu Pacific CEO Mike Szucs is feeling optimistic about the airline’s future as it emerges from the pandemic. With capacity set to reach pre-pandemic levels by March and expected to exceed it by June, Szucs sees an opportunity for the airline to outstrip its pre-crisis financial performance.
To aid in this goal, Cebu Pacific has 15 new aircraft arriving this year, including mid-life aircraft on lease to boost capacity. However, Szucs believes the airline can “leverage even further” on its competitive advantages and improve its share of overseas sales as international networks resume.
With a market share of over 50% in the Philippines’ domestic airline market, Cebu Pacific is in a strong position to ramp up faster than rivals. Plans are already underway to capitalize on growth opportunities, with three aircraft to be based in Clark to increase frequencies to key domestic and international points.
The airline is set to restore all 25 of its international points, including in China, by April, with a priority on improving its share of overseas sales. Szucs hopes that the airline can return to “consistent profitability,” with profit margins returning to pre-pandemic levels.
“I think there’s opportunity for us to be even bigger, better, even stronger, and even more profitable than we were pre-Covid,” says Szucs. “It’s good to be in the position again where we’re talking about growing the bottom line again…it’s been a long time coming.”
As the airline industry continues to recover from the pandemic, it’s refreshing to see a CEO with such a positive outlook for the future. Cebu Pacific’s growth plans and focus on improving its competitive advantages are sure to make it a major player in the industry for years to come.
Source: FlightGlobal
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