Budget carrier Cebu Pacific on Wednesday posted a whopping 153 percent profit growth to P8.9 billion in first half the year from P3.5 billion in the same period last year, fueled by network expansion and surging demand for air travel.
In a statement, CEB said it generated P63.3 billion in total revenue, marking a 23 percent increase from P51.439 billion in the same period last year.
The increase in revenue arose from the growth in passenger, cargo and ancillary revenues, CEB indicated.
Passenger revenue surged 24 percent to P44 billion, driven by higher travel demand. Cargo revenues grew by 33 percent to P3.51 billion, supported by a 43 percent rise in cargo volume. Ancillary revenues rose by 19 percent to P15.6 billion, primarily due to increased passenger volume.
