MANILA, Philippines — Cebu Pacific, Asia's oldest low-cost airline, ranks third among the strongest brands in the Philippines for 2023, and one of the country's most valuable brands overall, according to a study by a London-based brand valuation consultancy firm.
The airline received a Brand Strength Index score of 81.0, corresponding to a rating of AAA-, according to Brand Finance’s 2023 report on the most valuable and strongest Filipino brands. It also placed 20th among the Philippines’ most valuable brands for this year — the first time the airline made it in the list — with a brand value worth US$194 million.
“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,” said Candice Iyog, Cebu Pacific's Chief Marketing and Customer Experience Officer.
Brand Finance, the world’s leading brand valuation consultancy firm, published the annual list of the most valuable and strongest brands following a survey of over 100,000 respondents worldwide to assess their perception of more than 4,000 brands.
The survey was complemented with an analysis of the companies’ investments in marketing and research and development, as well as ratings by review sites, social media engagement, customer churn, market share, among others.
According to Brand Finance's report, the Philippines' strongest brands are determined based on a balanced scorecard that evaluates the marketing investment, shareholder equity, and business performance of each company.
Brand value, on the other hand, relates to the brand’s "present value of earnings specifically related to brand reputation," it added.
“We are also grateful for the trust and confidence of our passengers. In this dynamic and challenging industry, this distinction will further motivate Cebu Pacific to constantly improve our services and ensure the best travel experience for our passengers, along with our commitment to provide safe, reliable, and affordable air transport for every Juan,” Iyog said.
With its signature seat sales and year-round low fares, Cebu Pacific remains as the airline of choice for many Filipinos, maintaining a market share of 52% for July 2023. Since 1996, the airline has flown over 200 million passengers, with more than 4.8 million passengers serviced in the first quarter of 2023 alone.
Cebu Pacific also offers the widest domestic network among Philippine carriers, currently flying to 35 local and 23 international destinations across Asia, Australia, and the Middle East.