News
Cebu Pacific narrows losses to US$257 million for fiscal 2022
March 29th 2023
Cebu Pacific (CEB) has reported a net loss of 14 billion peso (US$257 million) for the 12 months to December 31, a 10.9 billion peso improvement over a 24.9 billion net loss in the previous year. Read More » Revenue improved by 261%, to 56.8 billion peso, CEB said in a regulatory filing, and added high jet fuel prices and the depreciation of the peso against the U.S. dollar had weighed on profitability. “CEB is ready to move forward with optimism and confidence as we transition from recovery to growth mode,” CEB CEO, Mike Szucs, said. “We remain committed to enabling everyone to fly and look forward to welcoming more passengers on board in coming months.”
