Cebu Pacific reported stronger first-quarter operating results for 2026, driven by higher passenger volume, increased seat capacity, and sustained travel demand. The low-cost carrier also announced that it was recognized by S&P Global Corporate Sustainability Assessment (CSA) as among the top 25 percent of the world's most sustainable airlines for its environmental management and employee and community care.
Financial Highlights
The airline said total revenue rose 10 percent year-on-year to P33.3 billion in the first quarter of 2026, supported by a 10 percent increase in seat capacity across domestic and international routes. Cebu Pacific carried 7.5 million passengers during the quarter, up 8 percent from a year earlier, while maintaining a seat load factor of 83.7 percent.
Passenger revenue climbed 6 percent to P22.5 billion, while ancillary revenue grew 19 percent to P9 billion on improved ancillary yields. The airline's cargo business also expanded, with cargo revenue increasing 8 percent year-on-year to P1.8 billion, supported by higher widebody capacity.
Earnings before interest, taxes, depreciation, and amortization (Ebitda) rose 26 percent to P8.4 billion, while operating income jumped 54 percent to P3 billion. Cebu Pacific said cost discipline and improved operating efficiencies partly offset higher operating expenses tied to fleet and capacity expansion.
Core income before tax improved to P1.3 billion from P325 million in the same period last year. However, the airline posted a net loss of P400 million, reversing the P466 million net income recorded in the first quarter of 2025, after booking P1.8 billion in non-core foreign exchange losses caused by peso depreciation at the end of the quarter.
Strategic Position and Outlook
Cebu Pacific ended March 2026 with 101 aircraft and more than P23 billion in cash, which the airline said would help cushion short-term market volatility while supporting long-term strategic initiatives. Mike Szucs, CEO of Cebu Pacific, commented: "Our first-quarter performance reflects the strength of our network and disciplined capacity deployment. 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."
Szucs added that the airline's scale, fleet efficiency, and strong domestic network position Cebu Pacific to manage near-term uncertainties while continuing to pursue long-term growth. The airline remains optimistic about sustained travel demand and plans to expand capacity prudently in the coming quarters.
