News
Cebu Pacific Air posts US$23m quarterly profit, optimistic about future growth
November 14th 2023
Cebu Pacific Air (CEB) reported net profit of 1.3 billion peso (US$23 million) for the three months to September 30 2023, returning to profitability from a net loss of 2.5 billion peso in the same three months in 2022. Read More » Revenue rose 38.5% to 23.3 billion peso, Cebu Pacific Air said in a regulatory filing. The LCC said there was a "notable increase in travel demand" for both its domestic and international networks in the September quarter, which it attributed to a change in graduation dates for schools in the Philippines, as well as more travellers on routes with high overseas foreign worker populations. "CEB continued its financial recovery in the third quarter, and we remain optimistic on its future growth,” Cebu Pacific Air chief finance officer, Mark Cezar, said.
