Cebu Pacific’s net income doubled in the first quarter of the year amid strong travel demand, the company said on Wednesday.
Cebu Air, the airline’s operator, disclosed to the stock market that it booked a net income of over P2.2 billion in the first three months of 2024, higher by 108 percent over the same period last year.
It also booked an operating income of P2.6 billion, which was 114 percent higher than in 2023.
Revenues from its passenger business reached almost P18 billion, which was 25 percent higher than in 2023. The airline’s ancillary and cargo businesses also grew.
“Growth was supported nu returning travelers over the Christmas holidays and Easter break as well as other Philippine festivals and events. This was coupled by higher frequencies on popular destinations, and the expansion of international footprint through the launch of [the] Manila-Danang route,” the company said.
