Cebu Pacific sees 1H net profit jump 64%

The Philippines’ Cebu Pacific and its wholly owned subsidiary Cebgo (formerly Tiger Air Philippines), posted a 64 per cent rise in net income of P5.2 billion (US$111.6 million) for the first half of 2015, over the P3.18 billion earned in the same period last year.


The Philippines’ Cebu Pacific and its wholly owned subsidiary Cebgo (formerly Tiger Air Philippines), posted a 64 per cent rise in net income of P5.2 billion (US$111.6 million) for the first half of 2015, over the P3.18 billion earned in the same period last year. In the same period, the CEB Group generated revenues of PHP 29.5 billion, an increase of 10.4 per cent year-on-year.

Cargo revenues for the first half of 2015 surged by 11.4 per cent to PHP 1.6 billion, from PHP 1.44 billion last year. Overall, ancillary revenues rose by 15 per cent to PHP 5.09 billion as a result of the healthy cargo revenue, improved online bookings, together with a wider range of ancillary revenue products and services, the carrier said.

From January to June 2015, Cebu Pacific and Cebgo flew over 9.2 million passengers, with flights approximately an 82 per cent load factor. Passenger revenues grew 9.4 per cent to PHP 22.81 billion, as passenger volume increased by 8.2 per cent compared to the same period last year.

“The CEB group’s notable 1H 2015 passenger growth was driven by the launch of CEB’s operations in Narita, and new long haul routes including Riyadh, Sydney, and Kuwait; and the launch of additional domestic routes,” said JR Mantaring, Cebu Pacific officerin- charge, Corporate Affairs.