Push Admin

A Cebu Pacific plane takes off from the Ninoy Aquino International Airport (NAIA) on August 4, 2023. Jonathan Cellona, ABS-CBN News

Article (news)

Cebu Pacific

Benise Balaoing

ABS-CBN News

<p>MANILA -- Budget carrier Cebu Pacific <span id="isPasted" style="color:rgb(65, 65, 65);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">reversed a P14 billion loss in 2022 to make P7.9 billion in net income in 2023.</span></p><p><span id="isPasted">In a statement, Cebu Pacific said this comes on the back of stronger demand for air travel--the airline said it flew </span>over 20 million passengers on more than 140,000 flights in 2023, up 41 percent and 31 percent, respectively, from 2022 figures.</p><div><a href="https://news.abs-cbn.com/business/01/01/24/cebu-pacific-completes-2023-aircraft-deliveries" rel="noopener noreferrer" target="_blank">Cebu Pacific completes 2023 aircraft deliveries</a></div><p>Cebu Pacific&#x27;s solid earnings alos boosted the numbers of its parent company JG Summit Holdings, which saw its net income triple to <span id="isPasted" style="color:rgb(65, 65, 65);letter-spacing:normal;orphans:2;text-align:left;text-indent:0px;text-transform:none;widows:2;word-spacing:0px;-webkit-text-stroke-width:0px;white-space:normal;background-color:rgb(255, 255, 255);text-decoration-thickness:initial;text-decoration-style:initial;text-decoration-color:initial;display:inline !important;float:none">P19.6 billion from P6.2 billion in 2022.</span> </p><div><a href="https://news.abs-cbn.com/business/2024/1/31/cebu-pacific-gets-airbus-boeing-proposals-for-150-aircraft-deal-953" rel="noopener noreferrer" target="_blank">Cebu Pacific gets Airbus, Boeing proposals for 150 aircraft deal</a></div><p>Revenues also climbed to P343.8 billion, up 14 percent from the P312.4 billion it saw the year before.</p><p>JG Summit&#x27;s real estate unit also contributed to the higher profit--Universal Robina Corporation saw a 24 percent jump in net income because of higher mobility and spending in its malls and hotels.</p><div><strong>RELATED STORY: </strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/w6JXL_lGm70?&amp;ab_channel=ANC24%2F7&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>Budget carrier Cebu Pacific reversed a P14 billion loss in 2022 to make P7.9 billion in net income in 2023.</p>

Budget carrier Cebu Pacific reversed a P14 billion loss in 2022 to make P7.9 billion in net income in 2023.

Cebu Pacific back in black, lifts JG Summit net income in 2023

News

Entertainment

Lifestyle

Sports

Metro.Style

More

Traffic

Manila

Horoscope

Business

Cebu Pacific back in black, lifts JG Summit net income in 2023

Benise Balaoing,

ABS-CBN News

Published Mar 26, 2024 06:54 PM PHT

|

Updated Mar 26, 2024 07:00 PM PHT

Read More:

cebu pacific

earnings

air travel

JG Summit

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.