AIRLINE company Cebu Pacific said that they had recorded a net income of P1.3 billion for the third quarter of 2023, after a surge in strong demand for travel.

“CEB continued its financial recovery in the third quarter, and we remain optimistic on its future growth” Mark Cezar, Chief Finance Officer said.

The company said that the turnaround from their net loss of P2.5 billion last year  was due to strong travel demand.

Likewise the budget carrier noted that there was an increase in travel demand from July to September.

This is due to the change in school calendars, which shifted graduation and school breaks. 

“This strengthened travel demand not only for domestic, but also for international markets, particularly evident on routes with high OFW population,” the company said. 

They claimed that they were able to book some P23.3 billion in revenues in Q3.

This is higher by 39 percent than in 2022 and 23 percent higher than in 2019.