Cebu Pacific & Philippines Airlines Among Profitable Airlines in SEA

Rank Airline  Country 

3Q 2015

3Q 2014

1. Malaysia AirAsia Malaysia  $78m profit $63m profit
2. Singapore Airlines Singapore  $71m profit $110m profit
3. Bangkok Airways Thailand  $30m profit $22m profit
4. Cebu Pacific/Cebgo Philippines  $22m profit $2m loss
5. Garuda Indonesia Indonesia  $22m profit $32m loss
6. SilkAir Singapore  $15m profit $2m profit
7. Thai AirAsia Thailand  $14m profit $13m loss
8. Citilink Indonesia  $8m profit $6m profit
9. Philippine Airlines Philippines  $5m profit $3m loss
10. Scoot Singapore  $1m loss $15m loss
11. SIA Cargo Singapore  $2m loss $13m loss
12. Indonesia AirAsia Indonesia  $4m loss $7m profit
13. Indonesia AirAsia X Indonesia  $7m loss N/A
14. Tigerair Singapore Singapore  $8m loss $20m loss
15. Malaysia AirAsia X Malaysia  $8m loss $42m loss
16. NokScoot Thailand  $9m loss N/A
17. Nok Air Thailand  $10m loss $11m loss
18. Thai AirAsia X Thailand  $11m loss $5m loss
19. Philippines AirAsia Philippines  $19m loss $30m loss
20. Thai Airways/Thai Smile Thailand  $79m loss $119m loss
TOTAL    $107m profit $95m loss

Source: CAPA – Centre for Aviation


Cebu Pacific Air and Philippine Airlines were among the five most profitable airlines in Southeast Asia during the first nine months of 2015, a period marked by more “rational” capacity and low fuel prices, think tank Center for Aviation (CAPA) said in a report.

CAPA data showed that Cebu Pacific booked a profit of $156 million while PAL earned $124 million during the January to September period. They were just behind Malaysia AirAsia, with a profit $220 million, and Singapore Airlines, which earned $203 million.

The gains came as challenges were highlighted for Southeast Asian carriers, which have moved to cut the overcapacity seen in 2014 that was manly led by low-cost carriers, the report said.

CAPA said Cebu Pacific and PAL were also among 10 of 19 profitable Southeast Asian airlines during the period, meaning most were still in the red.

“Majority of airlines remain in the red despite the low fuel prices, an indication that market conditions remain relatively challenging,” Capa said.

Among those that reported earnings, CAPA said several carriers were “only marginally profitable” and the figures were relatively lower when compared to most other regions.

It said the region’s airline sector would account for less than a fifth of the total profit for Asia Pacific and about 2 percent of the $50 billion in operating profit of airlines globally, CAPA added.

Sources: Miguel R. Camus,, CAPA

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