Cebu Pacific reports Q2 revenue increase

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By admin August 18, 2014 21:04

Cebu Pacific reports Q2 revenue increase

Philippine LCC Cebu Pacific Air reported second-quarter net income of PHP3 billion ($69 million), up significantly from the PHP257 million reported for the same period last year.

Total revenue for the quarter increased 33.7% to PHP14.95 billion year-on-year.

Second-quarter passenger revenues grew 36.3% to PHP12 billion and average yield per passenger was up 12.6%.

Cebu Pacific VP-corporate affairs attorney Jorenz Tañada said: “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.”

Passenger traffic grew 19.7% to 4.7 million, with load factors up 1.4% to 88.2% for the quarter.

Second-quarter RPKs increased 27.6% to 4.4 billion, while ASKs were up 28.3% to 5.2 billion as average sector length increased. Ancillary revenues for the quarter grew 27.4% to PHP2.2 billion, driven by a 6.4% increase in ancillary revenue per passenger and increased passenger numbers.

The airline also said that forward bookings for the next three months show indicate 6% growth year-on-year, with some 24% of seats for the next quarter already sold.

admin
By admin August 18, 2014 21:04