Cebu Pacific expects to be profitable in 2009
Cebu Pacific (CEB) expects to be profitable this year, stating revenues grew by 20% in 1H2009, through increased passenger traffic stimulated by cheaper fares. Revenues increased 25.1% year-on-year in 1Q2009, to USD110.3 million, while net income fell 15% year-on-year to USD6.9 million, due to foreign exchange losses. [810 words]
Unlock the following content in this report:
- Passenger traffic continues to grow, but slower than expected
- Sets aside USD1 billion for aircraft orders
- Expands internationally and domestically
- Suspends services to Caticlan
Graphs and data:
- Cebu Pacific passenger growth forecast (mill): 2008-2014
- Cebu Pacific fleet plans (week commencing 27-Jul-09)
- Cebu Pacific Destination Map: Jul-2009
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