CEB’s 1H net profit surges to PHP 3B

The Philippines’ leading carrier, Cebu Pacific (PSE: CEB), 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 Tañada, 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.

Cargo revenues also posted an increase of 15.7% as CEB carried 37 million of kilos of cargo, an increase of 17.7% for the same period last year.

For bookings and inquiries, guests can go to www.cebupacificair.com or call reservation hotlines +(632) 7020-888 or +(6332) 230-8888. The latest seat sales can also be found on CEB’s official Twitter (@cebupacificair) and Facebook pages.

CEB’s 50-strong fleet is comprised of 10 Airbus A319, 28 Airbus A320, 4 Airbus A330 and 8 ATR-72 500 aircraft. It is one of the most modern aircraft fleets in the world. Between 2014 and 2021, Cebu Pacific will take delivery of 11 more brand-new Airbus A320, 30 Airbus A321neo, and 3 Airbus A330 aircraft.

About Cebu Air Inc. (PSE: CEB)

Cebu Air Inc. is the largest carrier in the Philippine air transportation industry, offering its low-cost services to more destinations and routes with higher flight frequency within the Philippines than any other airline.