Cebu Pacific increase net income in Q1

Victoria
By Victoria May 17, 2013 13:34

Cebu Pacific increase net income in Q1

 

Cebu Pacific Air posted net income of PHP1.16 billion during the first quarter of 2013, a 20.2% increase compared to PHP962.40 million in the year-ago period.

The airline attributes the growth to robust passenger volumes, a rise in average fares, as well as increases in ancillary and cargo revenues.

CEB flew 4.9% more million passengers in Q1 2013, while the number of flights operated increased by 4.8%.

Average fares increased by 8.3%, driving passenger revenues to grow by 13.6%.

Growing passenger volumes raised ancillary revenues by 12.9% to PHP1.8 billion for Q1 2013, compared to PHP1.6 billion posted in the same period last year. Online bookings accounted for 52.8% of the total sales in the first quarter of 2013, an increase from 51.7%.

Meanwhile, cargo revenues grew by 3.5% due to increased volume and average freight charges of cargo transported in 2013.

CEB incurred operating expenses of PHP9.2 billion for the quarter, only 3.4% higher than the PHP8.9 billion operating expenses recorded for the same quarter last year. This contributed to a surge in Operating Income to PHP1.32 billion, 214% higher than the PHP420.1 million operating income earned last year.  

Victoria
By Victoria May 17, 2013 13:34
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