Cebu Air Inc., operator of budget carrier Cebu Pacific, posted a net income of PhP3.09 billion in the first half of 2010. This was up by 55.6 percent from a year ago, on the back of higher passenger traffic as a result of additional flights this year.
Revenues went up by 30.9 percent to Ph14.91 billion for the six-month period from PhP11.39 billion a year earlier, brought about by an increase in number of passengers. The company added flight frequencies to existing destinations and opened one new domestic destination (Pagadian). Increase in average fares and the automatic recognition of revenue from “noshow” passengers also boosted revenues for the period.