Posted on: 18 August 2014 by Mark Howells
Cebu Pacific Air’s net income for the first half of 2014 (1H14) has increased significantly on last year, rising from PHP (Philippine Pesos) 257 million to PHP3 billion. During 1H14, the airline carried a total of 8.5 million passengers, with a load factor of 88%.
Commenting on the airline’s second quarter (2Q14) results, which saw total revenues up by 33.7% on 2013 at PHP14.95 billion, Jorenz Tañada, the airline’s vice-president of corporate affairs said, “Cebu Pacific Air's net income growth in 2Q14 was driven by increased passenger traffic backed by industry rationalisation.”
Tañada added that an increase in passenger traffic of nearly 20% (to 4.7 million) was the reason passenger revenues increased by 36.3% during 2Q.
He continued, “Yields also increased as we now fly longer sectors to more destinations including Dubai and Japan. As we served more passengers, we also noted a significant increase in ancillary revenues.” The airline reported a 6.4% increase in ancillary revenue per passenger for 2Q14.