Among its improved forecasts for 2024, Cebu Pacific (CEB) said it is preparing its operations to accommodate its plans to increase the size of its fleet by next year. 

Seat capacity is expected to grow from five to eight percent next year from the 2023 levels, with CEB accepting the delivery of 19 new aircrafts by the end of the year, increasing its fleet to 76 new aircrafts in 2023 and growing to 92 by 2024. 

By the end of the year, CEB also expects to receive the proposals from suppliers after issuing Request for Proposals (RFP) to both Airbus and Boeing for 100 to 150 narrowbody jets. 

“We continue to explore various opportunities to supplement the fleet and ensure operational resilience, including securing both brand new and used aircraft, as well as exploring aircraft leases,” said CEB CEO Michael Szucs in a statement. 

However, the airline is expecting to initially ground 10 aircrafts beginning January 2024, then rising to 20 throughout the year due to early inspections and replacement activities of the Pratt and Whitney engines that power the A320/321 new engine option (NEO) fleet.

CEB stressed that these inspections are not based on a safety issue, but are conducted to ensure the continued operation of the P&W fleet. 

Szucs said the airline remains optimistic going into the fourth quarter given the 55 percent domestic market share recorded in October despite challenges on fleet availability. 

"Aside from that, we expect that by the end of the year, our systemwide network will be at 103 percent of pre-pandemic levels; domestic will continue to exceed pre-pandemic levels, while international is seen to be at about 93 percent,” he remarked.  

Szucs added that "by year-end, we expect to fly to 60 destinations, through over 100 routes and at least 2,700 weekly flights."

It will also implement measures to mitigate the effect of the grounding of flights to customers, such as adjusted flight schedules that are on sale, and provision of standby coverage on its fleet. 

CEB added that they are also considering a short-term wet lease from Bul Air, a charter company of Bulgaria Air.  

“We’ve taken all these initiatives to uphold our commitment to delivering affordable, safe, and dependable flights. While we acknowledge the challenges that we will face in 2024 and possibly even 2025, we remain very optimistic on the long-term economic prospects in the Philippines for our aviation industry, given the plans to privatize Ninoy Aquino International Airport (NAIA), the development of the Bulacan airport, and further enhancements of regional airports to relieve congestion and increase connectivity,” Szucs said.

In the third quarter, CEB has flown four million domestic passengers, which is five percent higher year-on-year and above pre-pandemic levels, as well as over 1.3 million passengers, pertaining to a 228 percent surge from the previous year.