TWO of the country’s airlines — Cebu Pacific and Philippine Airlines — joined London-based brand consultancy firm Brand Finance’s list of top strongest brands for 2023.
Cebu Pacific came out third among the strongest brands after receiving a brand strength index score of 81, which corresponds to a rating of AAA-, the company said in a press release on Tuesday.
“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 Jennifer A. Iyog, Cebu Pacific’s chief marketing and customer experience officer.
For its survey, Brand Finance analyzed companies’ investments in marketing and research and development, and ratings by review sites, social media engagement, customer churn, and market share, among others.
The Philippines’ strongest brands were determined based on a scorecard that evaluates the marketing investment, shareholder equity, and business performance of each company.
“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,” Ms. Iyog said.
Meanwhile, flag carrier Philippine Airlines bagged 10th place with a strength index score of 73.2 or a rating of AA.
The two airlines are marked as new entries in the strongest Filipino brands and in the top 20 most valuable Filipino brands.
In Brand Finance’s brand value ranking, Philippine Airlines placed 17th with $275 million, while Cebu Pacific placed 20th with $194 million.
BusinessWorld tried to get Philippine Airlines’ comments on the matter but has yet to receive a reply as of article filing. — Justine Irish D. Tabile