Philippines carrier Cebu Pacific reported a net income of $68.7m for the first half of 2014, up from just $5.9m for the same period last year.
The airline’s Q2 total revenues rose 33.7 per cent and passenger revenues grew 36.3 per cent year-on-year as passenger traffic increased 19.7 per cent.
“Cebu Pacific Air’s net income growth in Q2 2014 was driven by increased passenger traffic backed by industry rationalisation. Yields also increased as we now fly longer sectors to more destinations, including Dubai and Japan,” said Jorenz Tañada, VP of corporate affairs.
Cebu’s ancillary revenues also grew by 27.4 per cent driven by a 6.4 per cent increase in ancillary revenue per passenger and increased passenger traffic.
Cargo revenues also posted an increase of 15.7 per cent