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
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