Cebu Pacific brought in more revenue in the first quarter, helped by more seats and steady passenger demand, but peso depreciation pushed the airline to a net loss.
The airline reported ₱33.3 billion in total revenue, up 10 percent from the same period last year. It carried 7.5 million passengers, an 8 percent increase, while its seat load factor reached 83.7 percent.
Passenger revenue rose 6 percent to ₱22.5 billion. Ancillary revenue grew faster at 19 percent to ₱9 billion, helped by better yields from add-on services. Cargo revenue also increased 8 percent to ₱1.8 billion, supported by higher widebody capacity.
Cebu Pacific also improved its operating performance. EBITDA climbed 26 percent to ₱8.4 billion, while operating income rose 54 percent to ₱3 billion. Core income before tax also improved to ₱1.3 billion from ₱325 million last year.
The main drag came from non-core foreign exchange losses of ₱1.8 billion due to quarter-end peso depreciation. This led to a net loss of ₱400 million, compared with a ₱466 million net income in the same period last year.
Cebu Pacific ended March 2026 with 101 aircraft and more than ₱23 billion in cash.
“Our first-quarter performance reflects the strength of our network and disciplined capacity deployment,” said Mike Szucs, Chief Executive Officer of Cebu Pacific. “As we navigate a more volatile operating environment amid higher fuel prices, we are taking a more cautious and measured approach focused on margin protection, prudent capacity deployment, and liquidity preservation. Our scale, fleet efficiency, and strong domestic network position us well to navigate near-term uncertainty while continuing to build long-term value.”
