Cebu Air Inc., the operator of Cebu Pacific and Cebgo, said it refunded P2.7 billion worth of unused tickets for cancelled flights amid the coronavirus disease 2019 pandemic.
The budget airline said it continued to process a high volume of refund requests following flight cancellations.
“We have refunded an additional P300 million since our last update, for a total of P2.7 billion, and are currently processing refund requests filed in June,” it said.
“To ensure CEB continues to provide affordable and accessible air transport services in the years to come, we have been working on raising fresh capital,” Cebu Pacific said.
The airline said it was fully committed to closing off pending refunds at the earliest possible time.
“Updates will be provided to our passengers once their requests have been processed,” Cebu Pacific said.
“We understand how difficult this situation is for everyone, and we sincerely apologize for the delay. As the aviation industry gradually restarts and reshapes amidst this new normal, we hope for your continued patience and understanding, as refunds may still take up to six months from the time the request was filed,” the airline said.
Cebu Pacific said it was enhancing its processes for a better overall customer experience.
The airline earlier announced that it would raise $500 million in additional capital to ensure that it is well-positioned to recover from the impact of COVID-19.
It said the capital raising exercise would provide the airline with the needed runway to withstand the financial challenges as it slowly goes back to pre-COVID business level and settles into the “new normal.”