INQUIRER PHOTO / GRIG C. MONTEGRANDE
MANILA, Philippines — Cebu Pacific sank deeper into the red in the second quarter, posting a P5.5-billion net loss that pushed its first-half losses to P5.9 billion, as it grappled with what it described as “one of the most challenging operating environments we have faced post-pandemic.”
In a disclosure on Thursday, the Gokongwei-led budget carrier said the losses came despite an 8-percent increase in first-half revenues to P68.6 billion, driven by sustained passenger demand, higher ancillary revenues and stronger cargo operations.
READ: Cebu Pacific posts 8.4% traffic growth in volatile Q1
Article continues after this advertisement
