Cebu Pacific sees profit double, cargo revenue up

Cargo revenue also grew by 2.5 per cent to P2.5 billion for the first nine months of 2016.


CEB Cebu Pacific


Philippine low cost carrier Cebu Pacific and its wholly owned subsidiary Cebgo, generated a net income of P7.1 billion (US$144.4 million) from January to September 2016, equating to a 99.6 per cent increase from the P3.6 billion earned in the same period last year. The group’s revenues grew 10.5 per cent to P46.7 billion with passenger revenues climbing by 10.1 per cent to P35.4 billion and cargo revenues also grew by 2.5 per cent to P2.5 billion for the first nine months of 2016.

“Our current numbers testify to the ever growing market we cater to. We are affirmative that CEB’s network will only continue expanding from here on out,” said JR Mantaring, CEB VP for Corporate Affairs.

CEB now offers flights to an extensive network of over 100 routes on 36 domestic and 30 international destinations, spanning Asia, Australia, the Middle East, and USA. Its 58-strong fleet is comprised of six A319, 36 A320, six A330, eight ATR 72-500 and two ATR 72-600 aircraft. Between 2016 and 2021, CEB expects delivery of 32 A321neo, two A330, and 14 ATR 72-600 aircraft orders.