Cebu Pacific, the country’s largest budget airline, is seeking more flight entitlements to Hong Kong.
The airline, owned by industrialist John Gokongwei, filed a petition with the Civil Aeronautics Board for allocation of entitlements to Hong Kong under the Philippines-Hong Kong Air Services Agreement. The CAB has set a hearing on September 16.
Cebu Pacific currently flies to Hong Kong from Manila, Cebu, Davao, Clark and Iloilo.
“Parties/airlines on or before to the granting of this application must file their written opposition on or before the said date furnishing a copy of the same to the applicant with such evidence as may be proper under the circumstances,” the CAB said.
“Failure on the part of any interested party to file their opposition on time shall be construed as a waiver of their right to be heard and the CAB shall proceed to hear and decide the application on its merits,” the agency added.
Cebu Pacific earlier reported a net income of P7.14 billion in the first half of the year, up 116 percent from P3.31 billion year-on-year.
The company generated revenues of P44.70 billion in the six months ended June, 18.2 percent higher than P37.84 billion in the same period last year.
Passenger revenues rose 17.8 percent to P33.35 billion for the first half from P28.30 billion recorded on year.
Cebu Pacific attributed the higher revenues to the 8.8-percent increase in average fares to P2,974 for the first six months from P2,734 on year.
Passenger volume grew 8.3 percent to 11.213 million from 10.354 million last year as the group added bigger A321 aircraft to its fleet.
Cargo revenues rose 6.9 percent to P2.84 billion for the six months ended June from P2.65 billion on year, following the increase in both volume and yield of cargo transported in 2019.
Cebu Pacific incurred operating expenses of P35.772 billion, higher by 8.2 percent than P33.060 billion on year.