Leading aviation think tank, Centre for Aviation (CAPA) recognized Cebu Pacific Air (PSE:CEB) as the Asia-Pacific Low-Cost Carrier (LCC) of the Year, during the recently concluded CAPA Aviation Awards for Excellence in Singapore.
Cebu Pacific Air Chief Executive Adviser Garry Kingshott (right) receives the Low-Cost Carrier of the Year award from CAPA Executive Chairman Peter Harbison. CAPA – Centre for Aviation is the leading provider of independent aviation market intelligence, analysis and data services, covering worldwide developments.
"Our LCC of the Year has endured a tumultuous period in its home market, but maintained its focus and had the highest operating profit margin in the Asian airline industry," said CAPA Executive Chairman Peter Harbison.
"The carrier has launched a long-haul operation which strategically improves its long-term position by opening up new markets, while quickly responding to the challenges in this segment," he added.
This year, CEB launched four new long-haul destinations: Dammam, Riyadh, Kuwait and Sydney, and took delivery of four brand-new Airbus A330 aircraft.
It currently operates flights to 62 destinations on 90 routes, utilizing a fleet of 51 aircraft which is one of the most modern fleets in the world. Its network spans Asia, Australia and the Middle East.
CAPA also cited CEB's alliance with the Tigerair group, and its ability to adapt as competition intensifies. It was also able to turn around Tigerair Philippines, which is now also profitable.
The think tank also recognized CEB's focus on its home market, and its rapid but scalable expansion that does not come with excessive aircraft orders and capacity.
Established in 1990, CAPA – Centre for Aviation is the leading provider of independent aviation market intelligence, analysis and data services, covering worldwide developments. CAPA's Aviation Awards for Excellence are intended to reward airlines and airports that are not only successful, but have also provided industry leadership in adjusting to a new environment.
According to CAPA, "At a time of industry upheaval, our winners are adopting strategies that offer new directions for others to adopt."
The CAPA Awards are independently researched by CAPA's leading team of analysts, then selected by an independent international panel of advisors. It is not based on customer surveys, popular votes or sponsorship.
"The Cebu Pacific team is honored to be recognized by CAPA. We will continue to approach growth conservatively and responsibly in order to build a sustainable airline business. Ultimately, this sustainability will allow us to expand to more destinations, making our low fares available to more people," said CEB President and CEO Lance Gokongwei.
Between 2015 and 2021, Cebu Pacific will take delivery of 11 more brand-new Airbus A320, 30 Airbus A321neo, and 1 Airbus A330 aircraft. For more information, visit www.cebupacificair.com .
About Cebu Air Inc. (PSE: CEB)
Cebu Air Inc. is the largest carrier in the Philippine air transportation industry, offering its low-cost services to more destinations and routes with higher flight frequency within the Philippines than any other airline.