Cebu Pacific posted PhP33.94 billion gross revenues in 2011

Cebu Pacific posted 17% growth in gross revenues in 2011 to Php33.94 billion from Php29.09 billion mainly attributed to the 14% increase in the total number of passengers carried. This accounted for 28% of the JG Summit Holdings' total revenues in 2011 and was the second largest revenue contributor of the Group. However, costs and operating expenses increased faster than revenue growth at 34% to Php30.41 billion in 2011 due to the 39% increase average aviation fuel prices. As a result, EBIT and EBITDAR (earnings before interest, taxes, depreciation and amortization and rent expenses) declined by 45% and 22% to Php3.52 billion and Php7.88 billion, respectively. Cebu Pacific net income for the year amounted to Php3.62 billion, a 47% decline from the net income of Php6.92 billion in 2011. Cebu Pacific is the second biggest contributor of the  JG Summit Holdings' net income from continuing operations. - https://www.affordablecebu.com/