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Cebu Pacific Q1 revenue jumps to P6.71 billion

May 12, 2022 - Thursday 6:05 PM by GDM

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Budget carrier Cebu Pacific posted higher revenues in the first quarter despite the Omicron onslaught, the company announced Thursday.
In a statement, Cebu Pacific said it recorded P6.71 billion in the first quarter, 148% higher than the same period last year.
The company said this was driven by passenger operations which grew 256% to P3.16 billion from P887 million in the same period last year.
Likewise, ancillary and cargo revenues increased 239% and 40% year-on-year, respectively.
Cebu Pacific said it faced headwinds in January and February as COVID cases surged again due to Omicron.
This led the government to revert the country to Alert level 3 and reimpose stricter travel regulations. It also limited operation capacity due to crew resource limitations, resulting in several flight cancellations.
In March, however, the company said recovery became clearer as vaccination rates increased, COVID cases declined, alert levels de-escalated, and local government units simplified travel requirements. In addition, increased mobility encouraged people to go out and travel.
In the first quarter of 2022, CEB flew 16,521 flights, 128% higher vs. last year, while the passenger count likewise improved by 272% to 2.05 million.
Cargo operations sustained their growth, as cargo rose 36% to 34.2M kgs last year.


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