Cebu Pacific reports record profit in 2015, up 414%

Cebu Pacific Air (CEB) has reported a net income of P4.4 billion for 2015, a growth of 414% from the previous year.

CEB's total revenues went up by 8.7% to P56.5 billion, on the back of sustained growth in passenger volume on key domestic and international destinations. The airline's improved presence in emerging markets, supported by a conservative fleet expansion plan, also contributed to the upward trend.

"CEB's dynamic market has grown exponentially in two decades, thanks to the continued trust and patronage of our valued guests, and the staunch support of airline regulators and stakeholders both in the Philippines and abroad. Our passengers now number over 125 million since our inception – a testament to our commitment in enabling everyJuan to fly, through our extensive and most affordable flight network," remarked JR Mantaring, vice-president for corporate affairs.

CEB flew a total of 18.4 million passengers in 2015, up 8.9% from the 16.9 million passengers flown in 2014. The record numbers boosted passenger revenues to P42.7 billion, an increase of 6.2% year-on-year.

Cargo revenues also saw an upsurge, of 10%, to P3.5 billion, while ancillary revenues increased by 19.6% to P10.4 billion due to improved online bookings and a wider range of ancillary revenue products and services.

In 2015, the number of flights rose by 7.6% year-on-year with the launch of new routes such as Manila–Doha and Cebu–Tokyo (Narita), as well as increased frequencies of existing routes.

The airline ended 2015 with 55 aircraft, following the acquisition of five brand-new Airbus A320 and A330 aircraft with respective configurations of 180 and 436 all-economy class seats.

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