EARNINGS of Cebu Air, Inc., operator of budget carrier Cebu Pacific, soared by 142.9 percent in the first nine months propelled by higher passenger volume. In a filing on Tuesday, Cebu Air said its net income hit P6.754 billion compared to the P2.781 billion booked a year earlier. Cebu Air’s expenses in the January-September period reached P53.809 billion, up by 7.8 percent, as it continued its expansion plans. Cebu Air operates an extensive route network serving 80 domestic routes and 41 international routes with a total of 2,727 scheduled weekly flights. Shares in Cebu Air fell 1.15 percent or P1.10 to close at P94.90 each on Tuesday.

Source: Manila Times November 12, 2019 18:06 UTC