Cebu Air Inc., the operator of Cebu Pacific and Cebgo, registered a net income of P6.75 billion in the January-to-September period, up sharply by 143 percent from P2.78 billion year-on-year, on higher passenger revenues.
The airline owned by the Gokongwei Group said revenues amounted to P63.625 billion in the nine-month period, up 17.7 percent from P54.037 billion on year.
Passenger revenues jumped 17.9 percent to P46.598 billion from P39.537 billion last year.
CEB attributed the growth to the 10.4-percent increase in passenger volume to 16.7 million from 15.1 million last year as the group added bigger A321 aircraft to its fleet.
The increase in average fares by 6.7 percent to P2,794 in the first nine months from P2,617 on year also contributed to the increase in revenues.