Cebu Pacific misses 2013 passenger target

MANILA, Philippines – Budget carrier Cebu Pacific of tycoon John Gokongwei flew 14.35 million passengers in 2013, up 8.3% from the number recorded in 2012, but short of the carrier’s target for the year.

Cebu Pacific carried 13.25 million passengers in 2012. It was targeting 15 million passengers in 2013.

The airline failed to meet its target following two mishaps involving its planes and several flight cancellations due to Super Typhoon Yolanda (Haiyan).

Of its passengers last year, 11.04 million were domestic, up an annual 7.6%, while 3.31 million were international, 10.7% higher on year.

The airline’s seat capacity grew 9.2% to 17.52 million seats with the acquisition of new aircraft. This translated to a lower load factor of 81.9%, versus 82.6% in 2012.

Cebu Pacific earmarked $15 million for the acquisition of low-cost carrier Tigerair Philippines under a strategic alliance that will create the biggest network of flights in the region. (READ: Cebu Pacific buying Tigerair PH for $15M)

Cebu Pacific operates an average of 2,200 flights per week with 48 aircraft to 24 international and 33 Philippine cities in its network, while Tigerair Philippines operates an average of 102 flights per week with 5 aircraft to 12 domestic and international destinations from its bases in Manila and Clark.

By combining their resources, Cebu Pacific will be able to provide services to high-growth markets including Australia and India, while Tigerair will be able to fly more passengers to additional cities in Cebu Pacific’s extensive network in the Philippines and North Asia.

Cebu Pacific has a fleet of 48 Airbus aircraft including 28 A320s, 10 A319s, two A330s, and 8 ATR-72 500s. It is in the middle of a $4 billion refleeting program involving the acquisition of 49 brand new Airbus aircraft consisting of 15 A320s, 30 Airbus A321neos, and 4 A330s. – Rappler.com