Cebu Pacific, the Philippines’ leading airline, has been ranked third among the strongest brands in the country for 2023, and has emerged as one of the most valuable Filipino brands overall, according to a study conducted by a London-based brand valuation consultancy firm.
Scoring an impressive Brand Strength Index of 81.0, equivalent to a AAA- rating, Cebu Pacific’s position in Brand Finance’s 2023 report on the most valuable and strongest Filipino brands showcases its significant impact and recognition in the market. In a notable first, the airline also secured the 20th spot in the list of the Philippines’ most valuable brands for the year, with a brand value amounting to US$194 million.
Reacting to this achievement, Candice Iyog, CEB’s Chief Marketing and Customer Experience Officer, expressed humility and gratitude, stating, “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.”
Brand Finance, renowned as the world’s leading brand valuation consultancy firm, compiled the annual list by surveying over 100,000 respondents worldwide to gauge their perception of more than 4,000 brands. The assessment was complemented by analyzing the companies’ investments in marketing and research and development, alongside ratings from review sites, social media engagement, customer churn, and market share, among other factors.
The report by Brand Finance explained that the Philippines’ strongest brands were evaluated based on a balanced scorecard, which considered the marketing investment, shareholder equity, and business performance of each company. In contrast, the brand value was linked to the “present value of earnings specifically related to brand reputation.”
In response to the accolade, Candice Iyog expressed her gratitude to the airline’s loyal passengers, saying, “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.”
Cebu Pacific has continued to hold its status as the preferred airline for many Filipinos, maintaining an impressive market share of 52% as of July 2023. Since its establishment in 1996, the airline has flown over 200 million passengers, with more than 4.8 million passengers served in the first quarter of 2023 alone.
With its signature seat sales and year-round low fares, CEB offers the widest domestic network among Philippine carriers, operating flights to 35 local and 23 international destinations across Asia, Australia, and the Middle East.