Cebu Pacific net income up by 125% to P3.1-B in H1 ’14

By Azer N. Parrocha

MANILA, Aug. 13 (PNA) — Cebu Air Inc. (Cebu Pacific) on Wednesday reported a 125 percent surge in its net income to P3.01 billion from P257 million in the same period last year.

The company said it has generated revenues of P26.717 billion for the first six months this year, which is 23 percent higher than the P21.726 billion revenues earned in the same period last year.

In a disclosure, the company noted that the growth was driven by an increase in its passengers, cargoes and ancillary revenues.

Passenger revenues grew by P3.875 billion or 22.8 percent to P20.852 billion in the six months ended June 30 this year from P16.977 billion posted in the same period last year.

Meanwhile, cargo revenues grew by P211.971 million or 17.3 percent to P1.437 billion for the Jan-June this year from P1.226 billion in the same period of 2013.

Ancillary revenues also went up by P904.186 million or 25.7 percent to P4.428 billion in the first semester 30 this year from P3.524 billion registered in the same period last year.

As of June 30, 2014, the Cebu Pacific operates an extensive route network serving 59 domestic routes and 36 international routes with a total of 2,403 scheduled weekly flights. (PNA)