Cebu Pacific trims net loss to P14-B as sales soar 261 pct

MANILA - Cebu Pacific said on Tuesday its net loss narrowed to P14 billion in 2022 from P24.9 billion the previous year as travel demand increased. 

Revenues in 2022 grew 261 percent to P56.8 billion due to higher travel demand for both domestic and international markets, Cebu Pacific said in a disclosure to the stock exchange.

"CEB is ready to move forward with optimism and confidence as we transition from recovery to growth mode. We remain committed to enabling everyone to fly and look forward to welcoming even more passengers onboard in the coming months." said Mike Szucs, CEO of Cebu Pacific.

EBITDA hit P664 million in 2022, it added.

Cebu Pacific said its operating loss was also reduced to P11.4 billion compared to the previous year.

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