CEB on track with 17-M passenger target in 2014

Cebu Pacific (CEB) is on track with its 17 million passenger target for 2014.

With its increased presence in key markets, the sustained demand for air travel and industry capacity rationalization, the airline has already flown 12.5 million passengers from January to September 2014, an increase of 14.8% year- on-year.

For this third quarter, the airline carried 4 million passengers, 16.8% more versus the 3.4 million flown in the same period in 2012.

"The Cebu Pacific Air group is on track to meeting our target," confirmed Atty. Jorenz Tañada, CEB Vice President for Corporate Affairs.

CEB's total revenues increased by 32.4% year on year to 11.7 billion this third quarter.

Passenger revenues grew by 34.2% to 8.9 billion. Ancillary revenues grew 27.9% to 2 billion driven by 9.5% increase in ancillary revenue per passenger and increased passenger traffic.

Cargo revenues also posted an increase of 26.1% as CEB carried 43 million of kilos of cargo, an increase of 31.6% for the same period last year.

CEB's 52-strong fleet is comprised of 10 Airbus A319, 29 Airbus A320, 5 Airbus A330 and 8 ATR-72 500 aircraft. It is one of the youngest fleets in the world with an average age of 4.28 years.

Between 2015 and 2021, Cebu Pacific will take delivery of 9 more brand-new Airbus A320, 30 Airbus A321neo, and 1 Airbus A330 aircraft.