Cebu Pacific reports 261% rise in revenue to close at P56.8 billion

Cebu Pacific (CEB) recorded a whooping 261% increase in revenue from 2021 to close at P56.8bn in 2022. The airline made a 459% year-on-year (Y-O-Y) recovery in passenger business to close at P35.1 bn citing rising domestic and international demand coupled with the easing of various travel regulations. The airline reported a net loss of P14 bn in 2022 from P24.9 bn in 2021 while the operating loss reduced to P11.4bn, almost half of 2021. The airline’s EBITDA closed at P664 million from negative P8.8 bn last year. The airline’s recovery accelerated during the fourth quarter of 2022. Total revenues