Cebu Pacific Air confident of return to profit

Cebu Pacific is expecting return to profit citing capital raising activities and resurgence of air travel. In a recent filing, the airline said: “has already put into place certain initiatives since 2021 which would bring its stockholders’ equity from negative to positive.” “We intend to wipe out its capital deficiency this year by maximizing the use of the fleet to raise additional revenue, with the demand for flight services recovering,” the filing read. Cebu Air targets to operate an average of 3,000 flights per week within the Q2 of 2023 from just 2,600 flights a week in end-2022. The airline