CebuPac revenues up 18%

    98

    Cebu Air Inc. which operates Cebu Pacific yesterday reported a net income of P6.8 billion for January to September, an increase of 143 percent from the P2.8 billion net income in the same period last year.

    Revenue grew 18 percent to P63.6 billion for the nine months, from P54 billion a year ago, driven by sustained growth in revenues from passenger, cargo and ancillary services, the airline said.

    Passenger revenues went up 18 percent to P46.6 billion in the nine-month period, from P39.5 billion the year earlier, attributed to a 10 percent passenger growth and increase in average fares.

    As of end September, passenger volume stood at 16.7 million, from 15.1 million last year, as the company added bigger A321 aircraft to its fleet. Average fares increased by 6.7 percent to P2.8 billion in the nine months, from P2.6 billion in the same period last year.

    Cargo revenues grew 5.3 percent to P4.315 billion in January to September, from P4.09 billion last year, following the increase in both volume and yield of cargo transported in 2019.

    Ancillary revenues in the nine months jumped 22 percent to P12.7 billion, from P10.4 billion a year ago, due to the increase in average ancillary revenue per passenger by 10.7 percent from pricing adjustments and higher volume of certain ancillary products and services.