Cebu Pacific adds flights to Dubai leg

CEBU Air Inc. (CEB), the airline company that operates under the trade name “Cebu Pacific Air,” announced last Monday that it “continues to boost its international network to address rising demand for travel as it adds flights from Manila to Dubai beginning July 2, bringing its total to 10x weekly.”

CEB said it will operate the additional Manila-Dubai flight 5J18 every Tuesday, Thursday, and Saturday, scheduled to depart Manila at 10:20pm, and arrive in Dubai at 3:25am the next day.

This is on top of daily flights 5J14 with 7:20pm departure from Manila, and 12:45am arrival at Dubai, the listed firm said.

“This is a chance for every [Filipino] to experience a bit of what Dubai has to offer – from its megastructures, shopping, food and cultural heritage. With the easing of travel protocols in and out of the country, travelers also need not to worry about hassles when coming back to the Philippines,” CEB Chief Commercial Officer Alexander G. Lao was quoted in the statement as saying.

Requirements

TRAVELERS intending to fly to Dubai via Manila need a valid visa, a valid passport and vaccination certificates approved by the World Health Organization or the United Arab Emirates, the airline company said.  Dubai also recognizes negative test results for Covid-19 or medical certificates issued by relevant authorities for unvaccinated passengers.

Fully-vaccinated travelers coming to the Philippines, on the other hand, are exempted from presenting pre-departure Covid-19 test results for entry if they have received at least one booster shot.

“CEB urges its passengers to check with the authorities of their destination for the latest protocols and requirements.”

Last May, CEB said it recorded revenues of P6.71 billion in the first quarter, 148 percent higher from the same period last year.

The airline said that it flew 16,521 flights  in the first quarter, 128-percent higher against 2021 while passenger count, likewise, improved by 272 percent to 2.05 million. Cargo operations sustained its growth, as cargo rose 36 percent to 34.2M kilograms from last year.

CEB said this was driven by passenger operations that grew 256 percent to P3.16 billion from P887 million in the same period last year. Ancillary and cargo revenues, likewise, increased 239 percent and 40 percent year-on-year, respectively.

Opex, losses

OPERATING expenses grew 26 percent year-on-year mainly due to higher fuel expenses resulting from the increase in jet fuel prices. Nonetheless, operating loss narrowed 22 percent to P5.34 billion in the first quarter from P6.82 billion in the same quarter last year.

CEB said it also incurred P2.52 billion in non-core losses, primarily due to forex translation of dollar denominated loans and unrealized mark to market losses from the derivative value of its convertible bonds. As a result, the company recorded a net loss of P7.61 billion, 4-percent higher than P7.30 billion in the first quarter of last year.

CEB generated net cash flows from operations of P1.55 billion. This was largely driven by increase in unearned transportation revenue due to higher bookings. As at end March 2022, CEB’s cash and cash equivalents posted at P18.42 billion.

For the rest of 2022, CEB said it sees “a better business outlook driven by domestic recovery and re-openings of international destinations.”

“However, it remains cautious of the risks presented by increasing jet fuel prices and interest rates” and the depreciation of the Philippine peso against the US dollar.

CEB opened at P44 in the first trading day of the week and shed 1.82 percent to close lower at P43.20.