In a recent report published by London-based brand valuation consultancy firm, Brand Finance, Cebu Pacific (CEB) has emerged as one of the Philippines’ most powerful and valuable brands for 2023. The airline, renowned as the country’s leading carrier, claimed the third spot in the list of strongest brands and achieved a significant milestone by securing the 20th position among the most valuable Filipino brands for the first time in its history. Brand Finance’s study encompassed a Brand Strength Index score of 81.0 for CEB, translating to an impressive AAA- rating. Moreover, the airline’s brand value was estimated at an impressive US$194 million.
The rankings were determined after an extensive survey of over 100,000 respondents worldwide, who assessed their perception of more than 4,000 brands. Factors taken into account for the evaluation included marketing investments, research and development, customer ratings on review sites, social media engagement, market share, and customer churn, among others.
“We are humbled and honored to be named among the strongest and most valuable brands in the Philippines. This affirms our commitment to making air travel more affordable and accessible for every kind of Juan,” according to Candice Iyog, CEB Chief Marketing and Customer Experience Officer.
The Philippines’ strongest brands were carefully selected using a well-balanced scorecard approach, which carefully evaluated marketing investments, shareholder equity, and overall business performance for each company.
The airline has managed to maintain its position as the airline of choice for countless Filipinos, thanks to its signature seat sales and year-round low fares. As of July 2023, the airline has continued to dominate the market, boasting an impressive market share of 52%. The airline’s popularity is evident in its historical passenger numbers, having flown over 200 million passengers since its establishment in 1996, with an astounding 4.8 million passengers served in the first quarter of 2023 alone.
One of CEB’s significant strengths lies in its extensive domestic network, surpassing that of other Philippine carriers. Presently, the airline connects to 35 local and 23 international destinations, spanning Asia, Australia, and the Middle East.
As the aviation industry continues to evolve and face new challenges, Cebu Pacific’s strong brand positioning and customer loyalty serve as a solid foundation for further growth and success. With its continuous dedication to providing affordable and accessible travel options, Cebu Pacific is poised to remain a dominant force in the Philippine airline industry for the foreseeable future.