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| Budget carrier Cebu Pacific saw its net loss widen to P24.9 billion last year from P22.2 billion in 2020 as a fresh surge in COVID-19 cases resulted in fewer flights and passengers. | |
| The rollout of vaccinations beginning in March last year sparked optimism for normalization of operations but the Delta variant derailed the path to recovery, Cebu Pacific said in a disclosure on Wednesday. | |
| “[As] new COVID-19 variants emerged and cases surged, strict lockdowns were once again implemented which tempered growth of Cebu Pacific’s operational and financial performance,” the low-cost airline said. | |
| It flew 3.4 million passengers via 34,463 flights last year, lower than 5 million passengers via 41,804 flights in 2020. | |
| Total revenues for the period dropped by 30 percent to P15.7 billion as passenger revenues fell by 50 percent to P6.3 billion from P12.6 billion year-on-year. Revenues from cargo operations, meanwhile, rose by 20 percent to P6.5 billion last year. |