BUDGET carrier Cebu Pacific (CEB) will retain its fleet of 73 aircraft, as these jets and turboprops will play a key role in its recovery program.
Unlike full service carrier Philippine Airlines (PAL), which is reducing its fleet size by a quarter, Cebu Pacific VP Candice Iyog said the group is not planning to reduce its fleet.
“The 73 aircraft are for the full recovery of our network and we do want to go back to pre-Covid levels as soon as possible,” she said during a press briefing.
The group is ramping up its domestic and international operations, increasing frequencies to popular local destinations Boracay, Siargao, and Bohol, as well as the resumption of flights to Narita, Nagoya, and Fukuoka, among others.
“Domestic tourism will be the one leading the recovery process for us. We’re doing everything we can to support this,” Iyog said. “We are ready to ramp up as quickly as demand comes back.”
Currently, Cebu Pacific operates at 26 percent of its capacity. By October, with the reintroduction of international flights as well as the increased frequencies for domestic destinations, the low-cost carrier will be operating at 38 percent of its pre-Covid capacity.
Iyog noted that Cebu Pacific is “in discussion with Airbus for delivery schedules.” She declined to discuss how Cebu Pacific will move forward with its order of 16 long-range A330 neo aircraft, 10 A321 XLRs, and five A320 neo jets.
To date, “more or less half” of Cebu Pacific’s fleet is being utilized for both passenger and cargo operations. Some jets are currently parked in Australia.
Cebu Air Inc., the operator of Cebu Pacific, saw its net loss widening in the first half of the year to P13.79 billion, 50.9 percent higher than the P9.14-billion loss it recorded the year prior.
Revenues were also 66-percent lower at P5.90 billion from P17.33 billion due to declining earnings from its passengers and ancillary operations. Cebu Air shares increased by 0.76 percent or 3 centavos apiece to close at P39.6 per share on Thursday.
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