Low-cost carrier Cebu Pacific is aiming to list 17 million passengers this year with additional flights from its recently acquired Tigerair Philippines.
“Without Tiger, we see in excess of 15 million passengers. I guess with Tiger we’ll have over 17 [million passengers],” said Lance Gokogwei, president and chief executive officer of Cebu Pacific.
In the 12 months to January 2014, Tigerair posted a 168.5-percent year-on-year rise in traffic to 1.4 billion revenue passenger-kilometers (RPK), while capacity grew by more than 117 percent to 1.7 billion available seat-kilometers (ASK).
Consequently, passenger load factor was 15.3 percentage points higher at 80 percent in the period. The number of passengers carried by Tigerair rose 187.1 percent to 1.4 million, compared with 498,000 previously.
The jump in Tigerair’s passenger figures is expected to benefit Cebu Pacific. Its 100 percent acquisition included the 40-percent stake held by Tiger Airways Holdings Ltd. of Singapore.
“Last year, [we had]14.3 million [passengers]. There’s still growth, more than double-digit growth [in 2014],” Gokongwei said.
“I think both [the local and international]economies are robust, so we see opportunities for growth across fields,” he added.
Cebu Pacific currently operates over 2,200 flights per week with 50 aircraft to 24 international and 33 Philippine cities in its network. Tigerair Philippines operates about 118 flights per week with five aircraft to 11 domestic and international destinations, from its bases in Manila and Clark in Pampanga.
Through their combined resources, Cebu Pacific seeks to serve high growth markets including Australia, Myanmar and India.