Revenues surge at Cebu Pacific
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Cebu Pacific has reported an increase in net income for the first half of 2014, rising to PHP3 billion (US$68 million) from PHP257M for the same period last year, following improved performance through the second quarter.
“Cebu Pacific Air’s net income growth in Q2 2014 was driven by increased passenger traffic backed by industry rationalisation. Yields also increased as we now fly longer sectors to more destinations including Dubai and Japan. As we served more passengers, we also noted a significant increase in ancillary revenues,” said Atty Jorenz Tañada, vice president of corporate affairs.
CEB carried a total of 8.5 million passengers in the first half of 2014, with flights approximately 88% full. The increase in passenger numbers drove overall ancillary revenues up by 27.4% to PHP2.2 billion, while ancillary expenditure per passenger jumped 6.4% on H1 2013.
CEB now operates 50-strong fleet, comprised of 10 Airbus A319, 28 Airbus A320, four Airbus A330, and eight ATR-72 500 aircraft. Between 2014 and 2021, Cebu Pacific will take delivery of 11 more brand-new Airbus A320, 30 Airbus A321neo, and three Airbus A330 aircraft.
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