News
Cebu Pacific narrows quarterly loss to US44 million; revenue up 419%
November 11th 2022
Cebu Pacific has reported a net loss of 2.5 billion peso (US$44 million) for the three months to September 30 compared with an 8.2 billion peso net loss in the same months in 2021. Read More » Revenue jumped to 16.9 billion peso, Cebu Pacific said in a regulatory filing to the Philippines stock exchange. “We are encouraged by some notable improvements in our numbers despite challenges from fuel prices and foreign exchange rates,” Cebu Pacific chief financial officer, Mark Cezar, said. “We remain cautiously optimistic that our initiatives, coupled with a sustained increase in passenger traffic, will soon see better days.” Cebu Pacific increased its flights by more than 300% for the quarter, building domestic capacity and restoring several international services. In the months ahead, it will boost frequencies to Bali, Bangkok, Fukuoka, Hanoi, Ho Chi Minh City, Hong Kong, Jakarta, Kuala Lumpur, Singapore and Taipei, it said.
