Cebu Pacific Air said on Friday net income doubled last year due to the strong demand for low-cost air travel and robust growth in ancillary revenues.
The airline carrier owned by the Gokongwei Group said net profit increased 122 percent to P9.8 billion from P4.39 billion in 2015.
Total revenues, which include wholly-owned subsidiary Cebgo, rose 9.6 percent to P61.9 billion, up 9.2 percent from P46.6 billon in 2015.
Passenger revenues amounted to P46.59 billon, up 9.2 percent, while cargo revenues grew 3 percent to P3.564 billion.
Ancillary climbed 13.4 percent to P11.743 billion last year from P10.359 billion in 2015.
The group incurred operating expenses of P49.648 billion last year, higher by 6.1 percent from P46.801 billion in 2015.
Cebu Pacific flew 19.1 million passengers in 2016, up 4.1 percent from 18.4 million passengers in 2015.
“2016 was a great year for CEB as we continue to enable every Juan to fly to more destinations around the Philippines and to key destinations in Asia, the Middle East, Australia and the US,” Cebu Pacific vice president for corporate affairs JR Mantaring said.
“CEB remains committed to further increase inter-island connectivity within the Philippines to promote trade and tourism and help more people connect with their families and friends all around the world, while consistently providing our trademark best value fares,” he added.
Cebu Pacific in 2016 flew to 36 domestic and 30 international destinations through 102 routes and over 2,820 flights weekly.
Cebu Pacific boosted its intra-regional network in the Visayas with flights from Cebu to Ormoc, Roxas and Calbayog.
The airline also launched direct service between Kalibo and Incheon, as well as its first US destination, Guam.
The country’s largest budget airline teamed-up with some of the world’s leading low cost carriers to form Value Alliance, the world’s largest LCC Alliance, which aims to provide greater value, connectivity and choice for travel throughout Southeast Asia, North Asia and Australia. CEB also opened a branch office in South Korea, to boost promotional efforts in the Korean market.
Cebu Pacific capped 2016 with 57 aircraft, adding two brand-new ATR 72-600 aircraft in February 2017, to bring its current fleet to 59.
The airline in 2017 expects to take delivery of one Airbus A330, two Airbus A321neo and four more ATR 72-600, and three of its four Airbus A319 to end the year with 63 aircraft.
