Budget carrier Cebu Pacific saw its first semester profit surge 48 percent on robust passenger growth and lower oil prices.
Net income jumped to P7.68 billion as revenues grew 12.2 percent to P33.09 billion on higher passenger traffic.
Passenger revenues climbed 10.8 percent to P25.28 billion as it increased flights and added more aircraft to its
fleet. It ended the first half with a total of 57 aircraft.
The increase in average fares by 1.9 percent to P2,522 likewise contributed to the increase in revenues.
Cargo revenues reached P1.7 billion, up 6.2 percent year on year due to the increase in volume of cargo transported.
Improved online bookings together with a wider range of ancilliary revenue products and services also boosted the group?s earnings.
The six percent growth in operating expenses was partially offset by the substantial reduction in fuel costs due to the sharp decline in global jet fuel prices.
