Cebu Air losses widen to ₧21.99B

Cebu Air Inc., the operator of budget carrier Cebu Pacific (CEB), widened its net loss in January to September due to the impact of the pandemic.

According to a regulatory filing, the Gokongwei-led company booked a net loss of P21.99 billion, higher by 40.69 percent from the P14.69-billion net loss it incurred the year prior, as its revenues continued to drop to P9.15 billion from P19.34 billion or a 52.7-percent difference.

The drop in revenues is attributable to the declining passenger income. For the first nine months of the year, Cebu Air only booked P3.34 billion in passenger revenues due to the low demand for flights.

It only accommodated 1.9 million passengers during the said period, which was 59.6 percent lower than the 4.7 million passengers flown the year before.

Cebu Air’s cargo revenues, however, slightly cushioned that effect, sustaining a 20-percent growth to P4.26 billion from P3.55 billion.

Ancillary revenues, which mainly come from in-flight purchases, are also down by 60.5 percent to P1.53 billion from P3.90 billion.

“The disruption in the Group’s operations due to the repercussions brought about by the Covid-19 crisis had a negative impact on its financial condition and results of operations during the period,” the filing read.

Cebu-Camiguin flight

Cebu Pacific said it resumed its flight to Camiguin from Cebu on Tuesday. It is also the first carrier to bring back its direct flights to and from the island since the pandemic.

CEB is also set to launch its newest Manila-Camiguin route on November 15, as it boosts seamless connections across its widest domestic network.

“We are pleased to restart the tourism sector in the island as we enable more Juans to fly conveniently to and from this destination. We look forward to having more passengers on board as we welcome the reopening of leisure travel and prepare to paint the skies yellow again,” said Xander Lao, Chief Commercial Officer at Cebu Pacific.

The airline said seats to Camiguin are up for grabs for as low as P88 base fare until December 15. Travel period is from November 9 up until December 31.

Camiguin Island requires arriving tourists to create an account on cleancamiguinqr.com and upload necessary documents such as a filled-out health declaration form, along with a proof of complete Covid-19 vaccination.

Apart from this, travelers must also present a negative RT-PCR (swab) test result—taken at least 72 hours before departure if from Luzon; taken at least 48 hours before departure if from Visayas and Mindanao.

Tourists will also need to upload proof of confirmed booking from an LGU-accredited establishment or a clearance from the Municipal Health Officer of the municipality if staying in a private home. Once complete, tourists need to download their ID with QR code and save a copy for presentation prior flight.

All tourists will also need to take an antigen test on their fifth day at the island.


Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Article

Coal price rally allows DMCI Holdings to triple income in January-September

Next Article

Petron income hits ₧4.9B as curbs ease

Related Posts

Read more

DOE completes natural gas framework

The Department of Energy (DOE) on Thursday announced the completion of the second part of the Natural Gas Development Plan (NGDP), a framework that will aid in the development of the Philippine Downstream Natural Gas Industry (PDNGI).