Revenues climbed 20 percent to P30.4 billion as passenger and cargo segments posted double-digit growth. Ancillary income also rose 22 percent as more travelers returned to the skies.
But costs jumped 26 percent to P28.5 billion, with fuel, maintenance, and airport servicing leading the increase. A weaker peso inflated leasing and supplier expenses, weighing further on margins.
As a result, operating income dropped 26 percent to P1.96 billion, and net income plunged 79 percent to P466.9 million from P2.24 billion a year ago.
Management’s view
“We remain optimistic on our financial outlook. Underlying demand for affordable air travel remains strong, and we’ve made earlier strategic investments to ensure resilient operations,” said Mark Cezar, Cebu Pacific chief financial officer.
“Leveraging on these existing assets, CEB remains well positioned for sustainable growth, and improving profitability,” he added.
