With an additional P40.5 billion in its war chest, Gokongwei-led budget carrier Cebu Air expects to emerge out of the COVID-19 pandemic at least 25-30 percent more efficient than it was before the global crisis.
The operator of Cebu Pacific also expects to be one of the airlines with the lowest carbon footprint, Cebu Air chief executive Lance Gokongwei told shareholders of parent conglomerate JG Summit Holdings in a stockholders’ meeting on Friday.
JG Summit posted P122.18 million in first quarter net profit, just a small fraction of the P1.9-billion bottom line in the same period last year, as the prolonged COVID-19 pandemic bludgeoned its airline business.
Despite the much slo…
Keep on reading: Cebu Pacific operator sees domestic travel recovering soon