The Philippines’ largest national flag carrier, Cebu Pacific (PSE:CEB) flew over 2.8 million passengers from January to March 2011, posting a 12% increase compared to the same period in 2010.

This first quarter (Q1) result keeps the airline on track in achieving its 12 million-passenger target this 2011. CEB carried close to 10.5 million passengers for the full year 2010.

“We attribute this first quarter growth to flight frequency increases to key international markets, brought about by the additional capacity from our brand-new Airbus A320. Our 15th Airbus A320 was delivered just last January, increasing our fleet size to 33 aircraft,” said CEB VP for Marketing and Distribution Candice Iyog.

CEB’s Q1 growth was driven by international traffic, which is up 32%. The airline flew 672,456 international passengers from January to March 2011, compared to 511,178 passengers flown during the same period in 2010.

The airline doubled its Manila-Incheon (Seoul) services, making it twice daily last January 2011. It also added thrice weekly flights to its Manila-Bangkok services, making it a 10 times weekly service last February.

“Cebu Pacific achieved an 87% load factor from January to March, an increase of four percentage points year-on-year. We attribute this to CEB’s trademark low fares, the increasing number of passengers who avail of our affordable seat sales months in advance, and our extensive route network,” she added.

Iyog said that the airline also introduced Lite Fares last March, further lowering fares for guests and expanding passengers’ options for their baggage allowances.

CEB operates the most number of routes and flights in the Philippines, using the youngest aircraft fleet in the country. This is composed of 10 Airbus A319, 15 Airbus A320 and 8 ATR-72 500 aircraft. By the end of 2011, CEB will be operating a fleet of 37 aircraft – with an average age of 3.5 years – one of the most modern aircraft fleets in the world. Between 2012 and 2014, Cebu Pacific will take an additional 16 Airbus A320 aircraft.

Cebu Pacific Airlines Press Release