Cebu Pacific Achieves Robust Q1 EBIT Driven by Record Passenger Volume

Cebu Pacific Chief Executive Officer Mike Szucs.

Cebu Pacific Achieves Robust Q1 EBIT Driven by Record Passenger Volume

By Bing Jabadan – TheNATIONWEEK.com | May 13, 2026

MANILA, Philippines – Cebu Pacific (PSE: CEB), the Philippines’ leading airline, reported a significant 10% year-on-year increase in total revenue for the first quarter, reaching ₱33.3 billion. This growth was primarily fueled by a surge in seat capacity and sustained passenger demand across both domestic and international markets.

The airline transported 7.5 million passengers, an 8% increase year-on-year, while maintaining a strong seat load factor of 83.7%. This demonstrates effective capacity deployment and consistent travel demand. Passenger revenue climbed 6% to ₱22.5 billion, complemented by a 19% rise in ancillary revenue to ₱9 billion, driven by improved ancillary yields. Cebu Pacific’s cargo business also expanded, with an 8% year-on-year revenue increase to ₱1.8 billion, supported by enhanced widebody capacity.

Operational efficiency and cost discipline contributed to a 26% year-on-year rise in EBITDA to ₱8.4 billion and a 54% increase in operating income to ₱3 billion. These improvements partially offset higher operating costs associated with fleet and capacity expansion.

Core profitability saw a substantial improvement, with core income before tax increasing to ₱1.3 billion from ₱325 million in the prior year. However, quarter-end peso depreciation led to non-core foreign exchange losses of ₱1.8 billion, resulting in a net loss of ₱400 million compared to a net income of ₱466 million in the previous year.

Cebu Pacific concluded the quarter with a fleet of 101 aircraft and a strong liquidity position, holding over ₱23 billion in cash by March 2026. This provides substantial flexibility to manage short-term market fluctuations and support strategic initiatives.

“Our first-quarter performance underscores the strength of our network and disciplined capacity deployment,” stated Mike Szucs, Chief Executive Officer of Cebu Pacific. “In a more volatile operating environment with rising fuel prices, we are adopting a cautious and measured approach, prioritizing margin protection, prudent capacity deployment, and liquidity preservation. Our scale, fleet efficiency, and robust domestic network strategically position us to navigate near-term uncertainties while continuously building long-term value.”