• About Us
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • Email Whitelisting
Wednesday, February 1, 2023
Invest Daily Pro
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Politics
  • Editor’s Pick
No Result
View All Result
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Politics
  • Editor’s Pick
No Result
View All Result
Invest Daily Pro
No Result
View All Result
Home Forex

Cebu Pacific expects return to profitability in first quarter

by
January 25, 2023
in Forex
0
Cebu Pacific expects return to profitability in first quarter
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

BUDGET carrier Cebu Pacific (CEB) said it is aiming to turn profitable in the first quarter of this year as it is set to restore pre-pandemic network and capacity levels by March.

“By the first quarter, we aim and we hope to be profitable. It really depends [as] fuel prices started coming up again, that’s going to be a challenge,” CEB President and Chief Executive Officer Alexander G. Lao told reporters in a media briefing on Wednesday.

“First quarter traditionally is strong, particularly for January. February is not a great month for airlines throughout the world, [but] hopefully, March will be better,” Mr. Lao said.

CEB is hoping to be profitable for the full year, citing the strengthening of the local currency as among the drivers.

During the briefing, CEB VicePresident for Marketing and Customer Experience Candice Jennifer A. Iyog said that the company is targeting to restore its pre-pandemic capacity and destinations by March.

“Part of the restoration is the easing of restrictions. We bring back destinations when the market is ready to come back,” Ms. Iyog said. 

To meet this target, CEB will be offering seat sales, widening its domestic network, and reinstating all international destinations including Melbourne, Macau, Shanghai, Shenzhen and Xiamen.

The carrier will also be increasing the frequency of flights to international destinations such as Bangkok, Brunei, Sydney and Guangzhou.

Meanwhile, Mr. Lao said that the New Year technical glitch at the Ninoy Aquino International Airport had minimal effect on the airline.

“Obviously, it’s not a great experience for those that were impacted [but it quickly normalized the day or days after] … I think it is what it is, [we] dealt with it and it won’t impact our recovery,” Mr. Lao said.

According to Mr. Lao, what is important is the quick recovery of operations with the help of the government.

Meanwhile, CEB is done with capital-raising activities, which will be mainly used for its target of 10 additional aircraft this year.

“We are looking at P42 billion capital expenditure for 2023. Obviously, most of that would be aircraft-related,” Mr. Lao said. — Justine Irish D. Tabile

ShareTweetPin

Related Posts

Factory activity highest in 7 months
Forex

Factory activity highest in 7 months

February 1, 2023
Factory activity highest in 7 months
Forex

Factory activity highest in 7 months

February 1, 2023
PEZA approves P6.4-B investments in January
Forex

PEZA approves P6.4-B investments in January

February 1, 2023
PEZA approves P6.4-B investments in January
Forex

PEZA approves P6.4-B investments in January

February 1, 2023
Marcos to sign 7 bilateral deals during Japan trip
Forex

Marcos to sign 7 bilateral deals during Japan trip

February 1, 2023
Marcos to sign 7 bilateral deals during Japan trip
Forex

Marcos to sign 7 bilateral deals during Japan trip

February 1, 2023
Next Post
Dining In/Out (01/26/23)

Dining In/Out (01/26/23)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Taiwan defence minister says tensions with China are the worst in four decades

Taiwan defence minister says tensions with China are the worst in four decades

October 6, 2021
Maersk to increase warehousing footprint in PHL  

Maersk to increase warehousing footprint in PHL  

November 10, 2022

DBM releases over P1 billion in COVID compensation

May 15, 2022
High UK inflation could last for ‘years rather than months’, warns economist

High UK inflation could last for ‘years rather than months’, warns economist

May 10, 2022
DoJ rejects Bantag’s motion to inhibit prosecutors from murder complaint  

DoJ rejects Bantag’s motion to inhibit prosecutors from murder complaint  

January 18, 2023
Why we should raise taxes on vapes

Why we should raise taxes on vapes

November 27, 2022
Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.






    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
    • About Us
    • Privacy Policy
    • Terms & Conditions
    • Contact Us
    • Email Whitelisting

    Copyright © 2022 InvestDailyPro. All Rights Reserved.

    Disclaimer: InvestDailyPro.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    No Result
    View All Result
    • About Us
    • Contact Us
    • Email Whitelisting
    • Home
    • Privacy Policy
    • Suspicious engagement
    • Terms & Conditions
    • Thank You

    Copyright © 2023 SmarterNewsNow. All Rights Reserved.