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Monday, June 2, 2014

Cebu Pacific passenger traffic up 6.6 pct at start of 2Q

Cebu Pacific’s passenger traffic grew in the single digits at the start of the second quarter of the year.

Data from the Gokongwei-led budget airline show that it flew 1.44 million domestic and international passengers in April, up by 6.6 percent from 1.35 million in the same period last year.

The airline's load factor, which pertains to number of seats occupied per flight, inched up by 0.8 points to 89.8 percent last month from 89 percent last year.

In the first four months, Cebu Pacific's passenger traffic grew by 6.1 percent to 5.18 million from 4.89 million passengers last year. Its load factor went down to 84.4 percent from 85.2 percent in 2013.

Sought for comment, Cebu Air Inc (CEB) spokesperson Jorenz Tanada said the growth in passenger traffic was because of increased presence in key markets, strategic seat sales offering the lowest possible fares and continuous network expansion.

CEB president Lance Y. Gokongwei had said the budget airline would carry in excess of 15 million passengers this year. Including the traffic of recently acquired Tigerair Philippines, CEB expects more than 17 million passengers in 2014.

In March, the shareholders of Singapore's Tiger Airways Holdings Ltd and the Civil Aeronautics Board separately approved the 100 percent acquisition of Tigerair by CEB. The transaction was valued at $15 million.

CEB posted a net income of P164.164 million in the January to March period, down by 85.8 percent from the P1.157 billion in the same three months of last year.

Revenues of P11.76 billion however were 11.6 percent higher than the P10.54 billion in 2013. Passenger revenues amounted to P8.85 billion, up 8.3 percent from P8.17 billion last year.

- Interaksyon

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