The operator of Cebu Pacific and Cebgo said Friday net profit soared 71 percent to P3.56 billion in the first nine months of 2015 from P2.08 billion year-on-year on higher passenger revenues and lower jet fuel prices.
Cebu Air Inc. said Friday revenues rose 10 percent to P42.26 billion from P38.45 billion on year.
Passenger revenues contributed P32.13 billion, up 8 from last year’s P29.73 billon, while cargo revenues amounted to P2.49 billion, up 10 percent.
The company attributed the higher sales to the 9-percent gainh in passenger volume to 13.652 million from 12.530 million in 2014, driven by the increased number of flights in 2015.
The number of flights grew 9.8 percent year-on-year as the group added more aircraft to its fleet, including the acquisition of wide-body Airbus A330 aircraft with a configuration of more than 400 all-economy class seats.
The number of aircraft increased from 51 as of September 30, 2014 to 55 this year.
The slight decrease in average fares by 0.8 percent to P2,353 for the nine months ending September from P2,372 on year year partially offset the increase in revenues.