May 14, 2013

More passengers, cheaper fuel boost Cebu Pac income

Low cost carrier Cebu Air Inc. (Cebu Pacific), the airline arm of taipan John L. Gokongwei Jr., recorded a 20.2% YOY jump in net income in the first quarter of the year to P1.16 B on the back of higher passenger volume, cheaper fuel costs, and increase in average fares.

The airline’s revenues rose by 12.9% to P10.54 B. Data showed that passenger revenues rose 13.6% to P8.17 B. Cebu Pacific reported that volume of passengers inched up by 4.9% to 3.5 M from 3.4 M in the same quarter last year while number of flights increased by 4.8% as the number of aircraft went up to 43 from 40.

On the other hand, the airline said average fares increased by 8.3% to P2,312 per passenger from P2,134. Cargo revenues climbed 3.5% to P570.648 M due to the increase in the volume and average freight charges of cargo transported in 2013. Ancillary revenues including online bookings went up 12.9% to P1.8 B. - WealthSec