MANILA – Cebu Pacific (CEB) flew 7 million passengers and earned PHP30.4 billion in revenues during the first quarter of the year, marking a 20 percent year-on-year growth.

In a statement released Friday, the budget airline attributed the revenue boost largely to the 26 percent rise in passenger volume compared to the same period last year.

This growth translated to more than PHP21 billion in passenger revenue, up 19 percent, and more than PHP7 billion in ancillary earnings, up 22 percent.

The Gokongwei-led airline had 99 aircraft serving 63 destinations by the end of the first quarter.

“We remain optimistic on our financial outlook. Underlying demand for affordable air travel remains strong, and we’ve made earlier strategic investments to ensure resilient operations. Leveraging on these existing assets, CEB remains well positioned for sustainable growth and improving profitability,” said Mark Cezar, CEB's chief financial officer.

Meanwhile, CEB said that while the increased fleet and broader operations led to higher costs, it maintained anr Earnings Before Interest, Taxes, Depreciation, and Amortization or EBITDA of PHP6.7 billion, slightly higher than the previous year, translating to an EBITDA margin of 22 percent.

Operating income was PHP1.96 billion, resulting in a net income of PHP466 million, the airline said. (PNA)