CEB income slips to but revenues up at

Cebu Pacific Air (CEB) boosted the number of its flights and passengers for the first nine months of 2017, hauling in R50.331-billion revenues, 7.8% higher versus the same period in 2016. However, its income dipped 23.3% to R7.245 billion, pulled down by higher costs and expenses.

Passenger revenues went up 4.5% to R36.929 billion as CEB’s passenger volume grew 2.7% to 14.873 million after the airline added six more aircraft to its fleet which now total 62, boosting the number of its flights by 3.5%.

The increase in average fares by 1.7% from R2,442 to R2,483 also contributed to the increase in its revenues.

On the other hand, cargo revenues grew 29.0% to R3.288 billion following the increase in the volume of cargo transported in 2017.

Ancillary revenues went up by 15.1% to R10.113 billion as the result of the 12.0% increase in average ancillary revenue per passenger due to improved online bookings, pricing adjustments and a wider range of ancillary R43.086