This growth was boosted by travelers returning from their Christmas and Holy Week breaks, along with other regional Philippine festivals
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Cebu Pacific posted a net income of P2.24 billion in Q1 2024, up nearly 108% from the P939 million that it notched in. That period last year had marked the first time the low-cost carrier returned to profitability since the pandemic halted travel in 2020. This boosted Cebu Pacific’s passenger revenue by 25% year-on-year to P17.83 billion. Its ancillary and cargo revenues likewise grew by 14% and 11%, respectively. Total revenue for Q1 2024 reached P25.3 billion, a 21% increase. (READ:The low-cost carrier’s operating expenses also rose by 15% to P22.65 billion, driven mainly by the increase in flights and fleet-related costs. TheNevertheless, Cebu Pacific’s revenue growth managed to outpace its expanded operating expenses, leading to a P2.
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