Cebu Pacific 3Q2010 revenue up 31%, nine-month profit of USD110m
Cebu Pacific reported a 30.8% year-on-year increase in revenue* to PHP21,520 million (USD491.5 million) in the three months ended 30-Sep-2010, bringing net profit for the first nine months of 2010 to PHP4800 million (USD109.6 million). The carrier transported 7.7 million passengers in the first nine months, including 6.1 million domestic and 1.6 million international passengers, an increase of 37%. Cebu stated it is on track to transport more than 10 million passengers in 2010. [more]
*Based on the conversion rate at USD1 = PHP43.78
Cebu Pacific: “CEB’s revenue growth outpaced its passenger growth due to strong demand, resulting in higher load factors and improved margins. We have consistently maintained a competitive cost structure which allows us to offer lower fares while remaining profitable,” Lance Gokongwei, President and CEO. Source: Cebu Pacific: 15-Nov-2010.