Philippines beckons as Cebu Pacific recovers, 1 Peso flight – Cebu Pacific airlines is offering seats at PHP1 / P1 (1 Philippine Peso) starting 11.11 (11th Nov), the airline said on Thursday. Travelers started booking the promo fare starting midnight of 11.11, and it lasts while stocks last for 5 days.
The airlines reported Q3 profit increase of 68.97% YoY (down 35% QoQ), trimming net loss to P2.5 billion. 9M profit soared 45% YoY to a net loss of P12 billion. CEB reported that Q3 and 9M revenue “soared” as compared to 2021, with Q3 revenue up 419% YoY and 9M revenue up 310% YoY.
Cargo revenues for the nine months ending Sept. 30 improved by 31.7 percent to P5.62 billion, supported by a 19.1-percent increase in cargo kilograms flown.
SEAT SALE: Cebu Pacific offers fares as low as P1 in ‘11.11’ promo https://t.co/gPKhdJQ4BE
— ABS-CBN News Channel (@ANCALERTS) November 10, 2022
Nine-month passenger revenues grew nearly 85 percent to P22.48 billion from P3.34 billion a year earlier as passenger volume climbed more than five times to 1.9 million. Average fares for the period were up 22.1 percent to P2,154.
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Read more about Philippines beckons as Cebu Pacific recovers, 1 Peso flight at https://news.abs-cbn.com/business/11/10/22/cebu-pacific-offers-fares-as-low-as-p1-in-1111-sale