Cebu Pacific returns to profit in H1, 2023

Cebu Pacific returned to profit in the first half (H1) of 2023 booking close to P4 billion with strong recovery in passenger demand. Cebu Pacific reported a net income of P3.75 billion in the first half, a reversal from the net loss of P9.5 billion a year ago. In the H1, 2023, Cebu Pacific doubled its earnings to P43.55 billion from P20.68 billion to offset the 38% surge in expenses to P39.79 billion. The airline’s passenger revenue increased by nearly three times to P30.13 billion with almost 10.3 million passengers in the first semester. Cebu Pacific rose its flight volume