Cebu Pacific doubled its profits in 2016, as the low-cost airline carried more passengers and expanded its network.
The Philippine carrier posted a net profit of PHP9.8 billion (US$195 million) last year, up 122% year-on-year, following a 9.6% increase in revenues, to PHP61.9bn. For the full year, CEB flew 19.1m passengers, up 4.1% from the 18.4m it carried in 2015.
“2016 was a great year for CEB as we continue to enable ‘everyJuan’ to fly to more destinations around the Philippines and to key destinations in Asia, the Middle East, Australia and the US. CEB remains committed to further increase inter-island connectivity within the Philippines to promote trade and tourism,” said Atty JR Mantaring, CEB’s vice president for corporate affairs.
In 2016, the low-cost carrier expanded its network to 102 routes connecting to 36 domestic and 30 international destinations, with more than 2,820 weekly flights. This included the launch of flights to Guam, its first US destination.