CEB Group’s 9M 2016 net income grows twofold

Published on : Monday, November 14, 2016

unnamedThe Philippines’ leading airline, Cebu Pacific , and its wholly owned subsidiary Cebgo, generated a net income of P7.1 billion from January to September 2016, equating to a 99.6% increase from the P3.6 billion earned in the same period last year.

The Cebu Pacific Air group’s 9M 2016 revenues surged to P46.7 billion, a growth of 10.5% year-on-year. Passenger revenues climbed by 10.1% to P35.4 billion, after CEB carried over 14 million passengers for the first nine months of 2016. Cargo revenues also went up by 2.5% to P2.5 billion.

Similarly, ancillary revenues soared by 14.9% to P8.8 billion consequent to the 6% growth in passenger traffic and 8.4% increase in average ancillary revenue per passenger. Improved online bookings, together with a wider range of ancillary revenue products and services, contributed to the increase.

“Our current numbers testify to the ever growing market we cater to. We are affirmative that CEB’s network will only continue expanding from here on out. We look forward to offering our trademark low fares to even more passengers in the years to come,” says Atty. JR Mantaring, CEB Vice President for Corporate Affairs.

CEB is now preparing to launch three new domestic routes out of Cebu, to provide to the increasing inter-island travel demand in the Visayas region. Beginning November 19, 2016, the airline will be operating daily flights between Cebu and Ormoc (Leyte) and Cebu and Roxas (Capiz); and four times weekly flights between Cebu and Calbayog (Samar).

CEB now offers flights to an extensive network of over 100 routes on 36 domestic and 30 international destinations, spanning Asia, Australia, the Middle East, and USA. Its 58-strong fleet is comprised of six Airbus A319, 36 Airbus A320, six Airbus A330, eight ATR 72-500 and two ATR 72-600 aircraft. Between 2016 and 2021, CEB expects delivery of 32 Airbus A321neo, two Airbus A330, and 14 ATR 72-600 aircraft orders.

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