Cebu Air reports profits for 2014

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This week just gone, CEBU Pacific Air reported its net income for the first half of 2014 and the report showed an increase for the same time last year.

An increase from 257 million dollars from the first half of the year in 2013, the airline is in the midst of solid growth.

Total revenues increased 33.7% year on year to 14.95 billion and also passenger revenues grew 36.3% to 12 billion.

Atty. Jorenz Tanada, CEBU vice president corporate affairs has said that growth has been due to industry rationalization.

“Cebu Pacific Air’s net income growth in 2014 was driven by increased passenger traffic backed by industry rationalization, as we served more passengers, we also noted a significant increase in ancillary revenues,” said Mr Tanada.

The airline achieved notable 2014 passenger carrying with 4.7 million passengers, which is another increase of 19.7% in the same period last year.

A total of 8.5 million passengers have been carried in the first half of this year and their flights have been 88 per cent full.

Increases in ancillary and cargo revenues were also seen which proves further how well the airline has performed.

Source = ETB News: Lewis Wiseman
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