Cebu Pacific Air profit climbs 414% in 2015

Cebu Pacific Air ATR72-500
Cebu Pacific Air

Cebu Pacific Air recorded a net income of P4.4 billion in 2015, a growth of 414% from the previous year, propelled by robust passenger and cargo revenues, and lower operating expenses.

The Cebu Pacific Air group’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.

“Cebu Pacific’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,” said Atty. JR Mantaring, CEB Vice President for Corporate Affairs.

Cebu Pacific 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 likewise posted 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 also soared by 7.6% year-on-year with the launch of new routes such as Manila – Doha and Cebu – Tokyo (Narita), and increased frequencies of existing routes.

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

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