BUDGET airline Cebu Pacific Air said its net income increased 60 percent in the first six months of the year driven by higher passenger traffic.
The airline said net income rose to P8 billion from P5 billion a year ago, while revenues surged 12 percent to P33 billion.
Passenger revenues climbed 11 percent to P25 billion as the airline carried over 10 million passengers in the period. Cargo revenues were up 6 percent at P2 billion.
Ancillary revenues increased 20 percent to P6 billion as passenger traffic climbed 9 percent and average ancillary revenue per passenger grew 10 percent.
“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,” said Atty. JR Mantaring, CEB vice president for corporate affairs.
CEB services over 100 routes on 36 domestic and 30 international destinations. Between 2016 and 2021, CEB expects delivery of 32 Airbus A321neo, two Airbus A330, and 16 ATR 72-600 aircraft orders.