Cebu Pacific Air posts nearly 67% rise in profit

Singapore

PHILIPPINES' biggest budget carrier, Cebu Pacific Air (CEB), reported a near 67 per cent year on year rise in net income to 853 million pesos (S$260 million) last year, buoyed by higher passenger volumes and revenue.

Revenue was up 26.8 per cent to 52 billion pesos as passenger traffic leapt 17.5 per cent to 16.9 million. Passenger revenue was the biggest contributor to total revenue with 40.18 billion pesos, up 26.9 per cent, and ancillary revenue was up 28.7 per cent at 8.66 billion pesos.