Asia

Low-cost Airline Cebu Pacific 2016 Earnings Double

Cebu Pacific A319
Tis Meyer/Planepics.org

Cebu Pacific Air posted a net income of PHP9.8 Billion in 2016, up 122% year-on-year, on the back of the strong demand for low-cost air travel and robust growth in ancillary revenues, which include baggage fees, on-board meals and merchandise.

Total revenues, which include CEB cargo services and wholly-owned subsidiary Cebgo, jumped 9.6% to PHP61.9 Billion, as passenger revenues surged 9.2% to PHP46.6 Billion. For the full year, Cebu Pacific flew 19.1 Million passengers, up 4.1% versus the 18.4 Million passengers carried in 2015.

Atty JR Mantaring, Vice President for Corporate Affairs of Cebu Pacific, said:

“2016 was a great year for Cebu Pacific as we continue to enable everyJuan to fly to more destinations around the Philippines and to key destinations in Asia, the Middle East, Australia and the US. We remain committed to further increase inter-island connectivity within the Philippines to promote trade and tourism and help more people connect with their families and friends all around the world, while consistently providing our trademark best value fares”.

In 2016, Cebu Pacific flew to 36 domestic and 30 international destinations through 102 routes and more than 2,820 flights weekly.

Cebu Pacific boosted its intra-regional network in the Visayas with flights from Cebu to Ormoc, Roxas and Calbayog. The airline also launched direct service between Kalibo and Incheon; as well as its first US destination, Guam.

The Philippino airline also teamed-up with some of the world’s leading Low-Cost Carriers to form Value Alliance, the world’s largest low-cost carriers Alliance, which aims to provide greater value, connectivity and choice for travel throughout Southeast Asia, North Asia and Australia.

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