Cebu Pacific pax revenues up 11%, ancillary revenue up 20% in 1H2016

Cebu Pacific Group stated (15-Aug-2016) an 11% year-on-year increase in passenger revenues in 1H2016 was mainly due to a 9% increase in passenger numbers to more than 10 million. The average airfare increased 1.9% to PHP2522 (USD54.4). Ancillary revenues increased 20% due to traffic growth and a 10% increase in average ancillary revenue per passenger. The airline attributed growth in ancillary revenue to improved online bookings and a wider range of products and services. Cargo revenues increased 6% due to growth in volumes. Operating expenses increased 6% due to expanded operations, capacity growth from the acquisition of new aircraft and weakening of the Philippine peso against the US dollar. The increase was partially offset by a 15.2% drop in fuel costs. [more - original PR]