Cebu Pacific back in the black; passenger, ancillary gains cited

By Ed Paolo Salting

May 06, 2023 12:19 am

BUDGET carrier Cebu Pacific on Friday reported a net profit of P1.01 billion in the first quarter of 2023, rebounding from a P7.60-billion net loss a year earlier on the back of strong passenger and ancillary results.

Operating income increased to P1.24 billion from a loss of P5.34 billion while operating expenses rose by 63 percent to P19.64 billion from the P12.05 billion posted a year earlier.

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