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Cebu Pacific Air net income rises 20%

  • Published by Vedat
The Philippines’ largest national flag carrier, Cebu Pacific Air grew its 1st quarter (Q1) net income to PHP1.16 billion, a 20.2 percent increase compared to PHP962.40 million earned from January to March last year.
This increase was attributed to robust passenger volumes, a rise in average fares, as well as increases in ancillary and cargo revenues.

CEB flew 3.5 million passengers in Q1 2013, an increase of 4.9 percent compared to the same period last year. The airline operated a fleet of 43 aircraft as of March 31, 2013, compared to 40 aircraft in Q1 2012. This increased the number of flights operated by 4.8 percent.

Average fares increased even higher at 8.3 percent, from PHP2,134 in 2012 to PHP2,312 in 2013, driving passenger revenues to grow by 13.6% to PHP8.17 billion in 1st quarter 2013, from PHP7.19 billion in 1st quarter 2012.

Growing passenger volumes raised ancillary revenues by 12.9% to PHP1.8 billion for Q1 2013, compared to PHP1.6 billion posted in the same period last year. Online bookings played a factor in this, accounting for 52.8 percent of the total sales in the first quarter of 2013, an increase from 51.7 percent last year.

Meanwhile, cargo revenues grew by 3.5 percent to PHP570.65 million, brought about by increased volume and average freight charges of cargo transported in 2013. CEB Cargo remains the preferred and dominant air cargo carrier in the Philippines, mainly due to its extensive route network.

CEB incurred operating expenses of PHP9.2 billion for the quarter, only 3.4% higher than the PHP8.9 billion operating expenses recorded for the same quarter last year, due to the success of various cost initiatives and the strengthening of the Philippine peso against the US dollar. This contributed to a surge in Operating Income to PHP1.32 billion, 214% higher than the PHP420.1 million operating income earned last year.

CEB offers a network of 34 domestic and 21 international destinations, on over 90 routes. It currently operates 10 Airbus A319, 25 Airbus A320 and 8 ATR-72 500 aircraft. Its fleet of 43 aircraft is one of the most modern aircraft fleets in the world. Between 2013 and 2021, Cebu Pacific will take delivery of 17 more Airbus A320, 30 Airbus A321neo, and 4 Airbus A330 aircraft.

CEB is slated to launch flights from Cebu to Masbate (June 1, 2013) and Taipei (July 5, 2013), as well as the airline’s first long haul flights from Manila to Dubai (October 7, 2013).

For bookings and inquiries, guests can go to www.cebupacificair.com, or visit their nearest travel agents.
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