CEB net income soars 81% in Q1

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Cebu Pacific Air’s (CEB) net income in the first quarter of 2016 took off by 81 percent, propelling the budget carrier’s bottom line to P4 billion.

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CEB attributes the strong financial performance to improved online bookings, a wider range of ancillary revenue products and services.

In the same period last year, CEB posted a net income of P2.2 billion.

Its revenue surged to P16 billion, up 13 percent year-on-year. Passenger revenue rose by 11 percent to P12 billion, as CEB carried 4.8 million passengers in the first quarter. Cargo revenue went up 8.3 percent at P836 million.

Ancillary revenue soared by 24 percent at P3.2 billion as a result of the13-percent growth in passenger traffic and 10-percent increase in average ancillary revenue per passenger.

“The robust figures we disclosed… are a testament to CEB’s success in making air transportation more accessible and affordable for every Juan. We continue to upgrade our fleet, study new destinations and routes, and enhance our ground and in-flight operations, to ensure only the best service for our passengers,” says JR Mantaring, CEB vice president for Corporate Affairs.

CEB recently announced an additional flight between Manila and Doha, Qatar to cater to the demand in the Gulf country.

The airline offers flights to an extensive network of more than 90 routes in 64 destinations spanning Asia, Australia, the Middle East, and US.

Its 57-strong fleet comprises 7 Airbus A319, 36 Airbus A320, 6 Airbus A330, and eight ATR 72-500 aircraft. Between 2016 and 2021, CEB expects delivery of two more brand-new Airbus A320, 30 Airbus A321neo, and 16 ATR 72-600 aircraft.

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