MANILA -- Cebu Pacific on Thursday said its net income reached P2.7 billion from April to June 2023, a reversal of the P1.9 billion net loss it recorded in the same period last year.

The budget carrier said revenues soared to P22.7 billion in the second quarter of 2023, as it flew about 5.46 million passengers on over 36,000 flights.

The company said, however, that last quarter's figures were still below pre-pandemic levels.

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Cebu Pacific said its revenues were still 4 percent below what it earned in the second quarter of 2019. The number of flights was still 1 percent lower from April to June 2019, and passenger volume still 8 percent below pre-pandemic levels as short-haul international travel remained well below pre-COVID levels.

The airline also said global industry challenges and weather-related issues tempered their growth outlook.

President and chief commercial officer Alexander Lao said the past few months have been "one of the toughest" for Cebu Pacific.

"But we remain steadfast in our commitment to provide safe, reliable, and affordable flights to our passengers, and support economic growth in the Philippines and across the region," he stressed.

The carrier said its total assets stood at P165 billion at the end of the second quarter, covering its fleet of 80 aircraft.

In July, Cebu Pacific announced that its fleet was expanding, after it faced complaints over flight delays and cancellations that have led to calls to suspend its franchise.

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