MANILA - Following a P3.26-billion net loss in 2008, low-cost carrier Cebu Pacific expects a recovery in profits this year given its growing passenger base and improving revenues.

"Our revenues for the first half of the year grew by about 20%. We are profitable," Cebu Pacific President Lance Gokongwei told reporters on Wednesday. The airline is set to release its financial results next month.

Gokongwei said Cebu Pacific posted a 30% growth in passenger traffic for the first 6 months of the year to 4.4 million, driven mainly by the removal of fuel surcharges for both domestic and international flights.

"Consumers are price-sensitive. When you reduce the prices, definitely more will avail. The market, in fact, grew by 30%," he said.

For the first quarter, Cebu Pacific's passenger base expanded 28% to 1.97 million, outperforming the global aviation industry's 10% growth.

"We expect to increase our passenger numbers from 9 million this year to 15 million in 2013," Gokongwei said.

However, he admitted that the remaining months of the year could be tough due to higher fuel prices and low yields.

"The next 6 months are going to be tough. We expect that because there's the off-peak season, higher fuel prices, and low yields. But we still expect to be profitable," he said, adding that Cebu Pacific's new planes and cheaper fares will contribute to the company's growth in profits this year.

At present, Cebu Pacific operates 10 Airbus 319 (A319), 11 A320, and 7 ATR 72-500 aircraft. The airline is expecting the delivery of 2 more ATR aircraft this year.

"We expect 15 more Airbus to be delivered from 2011 to 2014. But for this year until 2014, 17 Airbus and 2 ATRs will come in," Gokongwei said.

Meanwhile, Gokongwei said Cebu Pacific is planning to add more Asian routes this year. "We applied for rights to fly to Brunei. We are also looking at more Japan routes and Korea as well," he said.