Cebu Pacific: International Traffic Growth Fueled by OFW Market
Cebu Pacific, the country's largest low-cost airline, has revealed in its latest statement that the airline has achieved a 22.4% compounded annual growth rate between 2008 and 2012. Much of the airline's growth can be attributed to the airline's heavy expansion in the international market in countries that have high concentrations of overseas Filipino workers.
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| Copyright Photo: Angelo Agcamaran/PPSG |
The growth rate was primarily comprised of travellers that arrived and departed from 3 major OFW bases in Hong Kong, Malaysia, and Singapore. The combined markets are home to more than 340,000 overseas foreign workers.
Hong Kong has been a key focus city as part of the airline's international network achieving a 13.4% compounded annual growth rate. Cebu Pacific serves Hong Kong from Manila, Cebu, Iloilo, and Clark. From Manila, the carrier operates two flights daily. It temporarily increased capacity on the Manila-Hong Kong route for the month of September by deploying its wide-body A330 aircraft. The large population of overseas foreign workers has increased demand for leisure and business trips.
Singapore and Malaysia also achieved significant compounded annual growth rates in excess of 30 percent each. Cebu Pacific serves Singapore from its hubs in Manila, Clark, Cebu, and Iloilo while Malaysia is served with direct flights from Manila to Kuala Lumpur and three weekly flights to Kota Kinabalu.
Meanwhile, the airline is planning to capture an even larger portion of the OFW market as it seeks to capture market share in the Middle East tapping into the huge overseas foreign worker population in that region. Cebu Pacific will be launching its first ever long-haul flight between Manila and Dubai on October 7. Dubai is a major OFW hub in the Middle East and Cebu Pacific is offering fares that are 35% lower than other airlines.
Hong Kong has been a key focus city as part of the airline's international network achieving a 13.4% compounded annual growth rate. Cebu Pacific serves Hong Kong from Manila, Cebu, Iloilo, and Clark. From Manila, the carrier operates two flights daily. It temporarily increased capacity on the Manila-Hong Kong route for the month of September by deploying its wide-body A330 aircraft. The large population of overseas foreign workers has increased demand for leisure and business trips.
Singapore and Malaysia also achieved significant compounded annual growth rates in excess of 30 percent each. Cebu Pacific serves Singapore from its hubs in Manila, Clark, Cebu, and Iloilo while Malaysia is served with direct flights from Manila to Kuala Lumpur and three weekly flights to Kota Kinabalu.
Meanwhile, the airline is planning to capture an even larger portion of the OFW market as it seeks to capture market share in the Middle East tapping into the huge overseas foreign worker population in that region. Cebu Pacific will be launching its first ever long-haul flight between Manila and Dubai on October 7. Dubai is a major OFW hub in the Middle East and Cebu Pacific is offering fares that are 35% lower than other airlines.
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