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CEB’s 1H net profit surges to PHP 3B

CEB’s Q2 2014 total revenues increased 33.7% year on year to P14.95 billion. Passenger revenues grew 36.3% to P12 billion as passenger traffic was up by 19.7%.

The Philippines’ leading carrier, Cebu Pacific, reported its net income for the first half of 2014 at PHP 3B, an increase from Php 257M for the same period last year.

CEB’s Q2 2014 total revenues increased 33.7% year on year to P14.95 billion. Passenger revenues grew 36.3% to P12 billion as passenger traffic was up by 19.7%.

“Cebu Pacific Air’s net income growth in Q2 2014 was driven by increased passenger traffic backed by industry rationalization. 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,” said Atty. Jorenz Tanada, CEB VP – Corporate Affairs.

The airline achieved notable Q2 2014 passenger carrying 4.7M passengers, an increase of 19.7% in the same period last year. CEB carried a total of 8.5M passengers in the first half of 2014, with flights approximately 88% full.

Ancillary revenues grew 27.4% to P2.2 billion driven by 6.4% increase in ancillary revenue per passenger and increased passenger traffic.

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