Cebu Pacific incurs P12.8B net loss in nine months

Cebu Pacific Air reported a net loss of P12.8 billion for the first nine months of the year, a reversal from the P9.470 billion net income earned in the same period last year, as it continued to face elevated fuel prices and foreign exchange translation losses.

Revenue generated for the first nine months of the year amounted to P96.2 billion, up 10% from the same period last year, driven by sustained passenger demand and growth across its ancillary and cargo businesses.

Passenger revenue increased 9% to P65.3 billion, while ancillary and cargo revenues grew 10% and 13%, respectively.

The airline carried nearly 21 million passengers during the period, a 4% increase year-on-year. Domestic traffic grew 5% to 15.7 million passengers, while international traffic remained broadly stable at 5.1 million.

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