Cebu Air, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 10:34 pm EDT
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Cebu Air, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was PHP 22,673.91 million compared to PHP 13,972.76 million a year ago. Net income was PHP 2,671.78 million compared to net loss of PHP 1,887.98 million a year ago. Basic earnings per share from continuing operations was PHP 5.92 compared to basic loss per share from continuing operations of PHP 3.36 a year ago. Diluted earnings per share from continuing operations was PHP 3.19 compared to diluted loss per share from continuing operations of PHP 3.36 a year ago.
For the six months, revenue was PHP 43,551.35 million compared to PHP 20,681.58 million a year ago. Net income was PHP 3,749.35 million compared to net loss of PHP 9,500.78 million a year ago. Basic earnings per share from continuing operations was PHP 5.5 compared to basic loss per share from continuing operations of PHP 16.05 a year ago. Diluted earnings per share from continuing operations was PHP 3.22 compared to diluted loss per share from continuing operations of PHP 16.05 a year ago.
Cebu Air, Inc. is a Philippines-based airline company that operates under the trade name Cebu Pacific and Cebu Pacific Air. The Company is engaged in the business of providing air transportation services. It is involved in the transportation of passengers, mail, merchandise, and freight, and to acquire, purchase, lease, construct, own, maintain, operate, and dispose of airplanes and other aircraft of every kind and description. In addition to passenger service and airport-to-airport cargo services, the Company also offers ancillary services, such as travel insurance, in-flight merchandise, baggage, and travel-related products and services. It operates in two segments: the airline business and the line and light maintenance business. It operates a fleet of 76 aircraft, which comprises of 21 Airbus A320 CEO, seven Airbus A321 CEO, nine Airbus A320 NEO, 10 Airbus A321 NEO, five Airbus A330 CEO, four Airbus A330 NEO, six ATR 72-500, and 14 ATR 72-600 aircraft.
CEBU AIR, INC. 
