Cebu Pacific Group reports P7.7bn profit in 1H16

Cebu Pacific Group has announced that in the first half of 2016 (1H16), Cebu Pacific Air and its wholly owned subsidiary Cebgo generated a net income of P7.7 billion, up from P5 billion in 1H15.

Cebu Pacific Group's 1H16 revenues grew by 12% year-on-year to P33 billion. Meanwhile, passenger revenues climbed by 11% to P25 billion, after the airlines carried more than 10 million passengers during the first half of 2016. Cargo revenues also went up by 6% to P2 billion.

Ancillary revenues showed considerable growth of 20% to P6 billion, a consequence of the 9% growth in passenger traffic and 10% increase in average ancillary revenue per passenger. Improved online bookings, together with a wider range of ancillary revenue products and services, contributed to the increase.

“Our strong operating and financial performance attest to the ever growing number of air travellers and communities we serve,” remarked J R Mantaring, CEB vice-president for corporate affairs. “We are optimistic that with the support of relevant government and airport authorities, we can continue contributing to the progression of air transport services in the country.”

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