Cebgo originally commenced operations in 1995 as South East Asian Airlines. In 2011, the Tiger Airways Holding group successfully acquired a minority share in the airline. After increasing its stake in the airline, it was subsequently re-branded as Tigerair Philippines in 2013. The airline was then acquired by Cebu Pacific in 2014 and was re-branded as 'Cebgo' in May 2015. Cebu Pacific subsequently initiated plans to re-establish the airline as a regional carrier. As a result, the airline has now entirely phased out its remaining jet aircraft and exclusively operates a fleet of ATR turbo-prop aircraft. This fleet adjustment has resulted in a further increase to the airline’s score within the ARC.

In December 2015, the U.S. Federal Aviation Administration (FAA) downgraded Thailand from a ‘Category 1’ to a ‘Category 2’ listed country after its regulatory body, the Department of Civil Aviation of Thailand (DCA), failed to comply with internationally recognised standards in regulatory oversight. The downgrade indicates that the DCA lacks the capability to provide a sufficient standard of oversight of the aviation industry within Thailand. Furthermore, it can also indicate that the regulatory authority is deficient in areas such as technical expertise, personnel training and inspection capabilities.

The International Air Transport Association has released its forecast for 2016, which forecasts that low oil prices and growing demand for air travel will result in increased airline profits in 2016. The recent safety concerns regarding terror related attacks in Europe have slowed traffic in the region; however, IATA expects this decrease in demand to only last between six and nine months.