Low-cost carrier Cebu Pacific (CEB) and its wholly owned subsidiary Cebgo generated a net income of P7.682 billion in the first half of the year, an increase of 47.7% from the P5.200 billion earned in the same period last year.
The Cebu Pacific Air group’s first-half 2016 revenues surged to P33 billion, a growth of 12% year-on-year. Passenger revenues climbed 11% to P25 billion from P22.813 billion posted in the first half of 2015.
The increase was mainly attributable to the 8.7 % growth in passenger volume to 10.025 million from 9.222 million in 2015, driven by more flights in 2016, which rose 0.9% year-on-year as more aircraft was added to its fleet.
Cargo revenues also went up 6% in 2016 to P2 billion from P1.601 billion last year following the rise in the volume of cargo transported.
Likewise, ancillary revenues soared 20% to P6 billion with the 9% growth in passenger traffic and 10% increase in average ancillary revenue per passenger. Improved online bookings, together with a wider range of ancillary revenue products and services, contributed to the expansion.
“Our strong operating and financial performance attest to the ever growing number of air travelers and communities we serve, via approximately 2,400 weekly flights out of CEB’s six strategic hubs nationwide,” Cebu Pacific vice president for corporate affairs JR Mantaring said in a statement.
He added. “We are optimistic that with the support of relevant government and airport authorities, we can continue contributing to the progression of air transport services in the country.”
Cebu Pacific recently announced three new domestic routes out of Cebu to cater to the increasing inter-island travel demand in the Visayas region. Beginning November 19, 2016, the airline will be operating daily flights between Cebu and Ormoc (Leyte) and Cebu and Roxas (Capiz); and four times weekly flights between Cebu and Calbayog (Samar).
The airline will also be operating direct daily flights between Kalibo and Incheon, South Korea, effective October 1, 2016.
