News
Cebu Pacific back in the black in fiscal 2023
March 27th 2024
Cebu Pacific has reported a net profit of 7.9 billion peso (US$140 million) for the 12 months to last December 31, returning to profit from a net loss of 14 billion peso in full-year 2022. Read More » Revenue increased 60%, to 90.6 billion peso, Cebu Pacific said in a regulatory filing. “We are optimistic Cebu Pacific’s solid 2023 financial results will lay the foundations for a stronger financial performance in 2024,” Cebu Pacific chief financial officer, Mark Cezar, said. In a slide presentation accompanying the annual results, the LCC said it will expand its fleet from 85 aircraft at December 2023 to 93 airplanes at this year-end. A320neo family and A330neo aircraft are forecast to increase from 85 to 93, but the airline’s A320ceo fleet will be cut by five to 26 aircraft. The ATR 72-600 turboprop fleet will not change.
