For best experience, use Nutshell app on your smartphone.
3:16 pm on 10 November 2022, Thursday
Cebu Air Inc. generated P16.9 billion in revenue for the third quarter, up 419% from P3.2 billion in the same period last year.
This was propelled by a strong recovery across its business segments, the company said in a statement on Thursday.
Despite being a lean season, the continuous easing of travel requirements encouraged strong travel demand, Cebu Air said.
For the third quarter, Cebu Pacific has flown over four million passengers, a 489% increase versus third quarter last year.
The airline’s seat load factor also improved to 74% from 57.5% last year. This consequently resulted in the growth of passenger and ancillary businesses by 724% and 725% year-on-year, respectively.
Likewise, cargo business continued to sustain as it posted revenue of at least P2 billion, 41% higher than last year.
Operating expenses grew 112% year on year, as the airline faced significantly higher jet fuel prices, coupled with the peso depreciation.
Nonetheless, net loss narrowed from P8.2 billion in the same quarter last year to P2.5 billion.