CEB Group’s net income soars higher than ever

CEB Group’s net income soars higher than ever
By claudiacomacchio


The Philippines’ leading airline Cebu Pacific, and its subsidiary Cebgo, generated a net income of P2.2 billion from January to March 2015.

This amount is over 13 times higher than the income earned in the same period last year.

The Cebu Pacific Air group’s Q1 2015 revenues increased by 20.7%. Passenger revenues climbed by 22.2%, and cargo revenues flew north by 13.6%, compared to the same period in 2014.

The CEB group also hit a notable Q1 2015 passenger growth in both domestic and international markets. It flew 4.3 million passengers during the first quarter of the year, 13% more than the previous year.

The upsurge was largely influenced by growth in passengers flow to and from long haul destinations

The upsurge was largely influenced by growth in passengers flown to and from long haul destinations such as Dubai, Riyadh, Kuwait, and Sydney.

“CEB attributes its bullish income and passenger growth to increased presence in key markets, strategic seat sales offering the lowest possible fares, and continuous network expansion,” CEB Corporate Affairs officer-in-charge, Atty. JR Mantaring said.

Recent declines in fuel prices also contributed to the net income ascension, as CEB’s total fuel cost for Q1 2015 was reduced by 22%.

CEB is set to launch twice weekly direct flights between Manila and Doha, Qatar starting June 4, 2015. The airline will be the only Philippine carrier flying between these two cities, to serve more Global Filipinos in the Middle East.

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