Q4 2025 Cebu Air Inc Earnings Call Transcript
Key Points
- Cebu Air Inc (CEBUY) achieved a 14% increase in total revenue for 2025, reaching PHP120 billion.
- The airline carried a record 26.9 million passengers in 2025, marking a 10% increase year-on-year.
- Cargo revenue grew significantly by 27% to PHP7.2 billion, supported by increased capacity from wide-body aircraft.
- Cebu Air Inc (CEBUY) maintained a healthy load factor of 84% throughout 2025.
- The company reported a more than doubling of net income to PHP12.3 billion for the full year 2025.
- Passenger volume remained flat in the second half of 2025 due to seasonal patterns and operational disruptions.
- The airline faced challenges with a higher number of aircraft on ground and operational disruptions, including two significant typhoons.
- Fuel price volatility due to geopolitical tensions in the Middle East poses a significant risk to operating costs.
- Cebu Air Inc (CEBUY) is currently unhedged on fuel, exposing it to fluctuations in fuel prices.
- The company had to implement temporary network adjustments, including frequency reductions and flight cancellations, due to rising fuel costs.
Good day, everyone. Cebu Pacific delivered a robust financial performance in 2025 despite a year marked by contrasting conditions between the first and second halves. The first half saw passenger volume rise by 21% year on year, supported by stable load factors and yields, demonstrating that demand continued to absorb the additional capacity we have placed into the market.
The second half, however, proved more challenging, where passenger volume remained relatively flat year on year due to seasonal patterns, operational disruptions, including two significant typhoons, a higher number of aircraft on ground and an overall softening of economic growth and consumer sentiment. Revenue for the fourth quarter reached PHP32.3 billion, up 6% year on year, supported by 6.9 million passengers and higher passenger yields supported by holiday travel.
Ancillary revenue grew by 8% to PHP9.3 billion, while cargo revenue continued to post a steep growth of 19% to PHP2 billion, supported by the increase in capacity from our wide-body aircraft. For
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