CEB’s net income soars

March 31, 2017 by  
Filed under Aviation, News, Philippines

MANILA, 31 March 2017: 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.

Total revenue, which includes 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, CEB flew 19.1 million passengers, up 4.1% versus the 18.4 million passengers carried in 2015.

“2016 was a great year for CEB as we continue …to fly to more destinations around the Philippines and to key destinations in Asia, the Middle East, Australia and the US,” said Cebu Pacific vice president for corporate affairs Atty JR Mantaring. “CEB remains committed to further increase inter-island connectivity within the Philippines.”

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

CEB 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. CEB has teamed-up with other low-cost carriers to form Value Alliance that claims to be the largest LCC alliance. The alliance’s network covers  Southeast Asia, North Asia and Australia.

CEB closed 2016 with 57 aircraft and has adding two new ATR 72-600 aircraft last February to bring its current fleet to 59. For the rest of 2017, CEB expects to take delivery of one Airbus A330, two Airbus A321neo, and four more ATR 72-600; and delivering out three of its four Airbus A319s to close the year with 63 aircraft.

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