News
Cebu Pacific reports US$66 million interim profit; notes decline in short haul demand
August 14th 2023
Cebu Pacific (CEB) has announced a net profit of 3.7 billion peso (US$66 million) for the six months to June 30 compared with a net loss of 9.5 billion peso in the matching period in 2022. Read More » Revenue increased 110.6%, to 43.6 billion peso, Cebu Pacific said in a regulatory filing. Passenger numbers were down 8% over pre-pandemic 2019 and short haul international travel was “well below” four years ago, the LCC said. “The past few months have been some of the toughest for CEB, but we remain steadfast in our commitment to provide safe, reliable and affordable flights to our passengers and support economic growth in the Philippines and across the region,” CEB president and chief commercial officer, Alexander Lao, said.
