CebuPac sees better Q3 figure

MANILA, Philippines - Budget carrier Cebu Air Inc. (Cebu Pacific) expects to have better third quarter financial results this year.

Cebu Pacific president and chief executive officer Lance Gokongwei told reporters this year’s third quarter financial results are seen to be “ahead of last year.”

Cebu Pacific reported a net loss of P1.1 billion in the July to September period last year.

As of the first-half of this year, Cebu Pacific’s net profit amounted to P5.2 billion, up 64 percent from the P3.18 billion in the same period a year ago.

Cebu Pacific’s passenger volume reached 10.7 million as of July.

Gokongwei said Cebu Pacific expects to meet, if not exceed its 18 million passenger volume target this year.

The budget carrier is looking to add new destinations to support the growth of passenger volume and the business.

Gokongwei said Cebu Pacific is interested to start flights to Honolulu, Hawaii, after securing necessary approvals which are targeted to be completed by early next year.

“We think it’s (Honolulu) an attractive market because there’s a lot of Filipinos in Hawaii and possibly there’s a lot of connecting traffic from Honolulu on to the West Coast,” he said.

North Asian countries that have no direct flights to Honolulu could also connect through Manila.

The carrier is likewise interested to increase flights to Australia and the Middle East. 

Earlier, Cebu Pacific announced it is offering new direct flights to Japan, Taiwan and Singapore in December.

Cebu Pacific is set to inaugurate direct flights from Manila to Fukuoka, Japan; Cebu to Taipei, Taiwan; and Davao to Singapore on Dec. 17.