Connect with us

Hi, what are you looking for?

Economy

Cebu Pacific offers ‘piso sale’ as it seeks to boost air travel

CEBU PACIFIC said on Wednesday it would have to continue its efforts to boost air travel as the budget carrier cannot afford to wait for a coronavirus vaccine.

“I think we cannot afford to wait for the vaccine to get here before we start to confidently fly again because of the impact of travel and tourism on the economy,” Candice A. Iyog, Cebu Pacific vice president for marketing and customer service, said at a virtual forum on Wednesday.

She said the low-cost carrier, operated by Cebu Air, Inc., is “finding the right balance based on the information it has, based on the technology, and based on what it has in place today so that it can already start calibrating and moving closer towards where its peers are.”

On Monday, Cebu Air President and Chief Executive Officer Lance Y. Gokongwei said at a Palace briefing that the “airline sector is really under severe stress.”

“This year, we will lose almost P25 billion. But I think that’s part of doing business,” he added.

Mr. Gokongwei said the company’s main priority for now is to operate the airline “in a very safe and secure manner for both its passengers and employees” in order to regain people’s confidence in flying amid the pandemic.

The low-cost carrier also announced on Wednesday that it will be offering its trademark “piso” seat sale from Dec. 10 to 12 for travels from Aug. 1 to Nov. 30 next year.

“A lot of us are looking forward to experiencing the wonders of travel again, especially now that we are seeing more domestic destinations reopen its doors for tourists. We firmly believe the holiday season is the perfect time to share this gift with everyJuan,” Ms. Iyog said.

Cebu Air’s net loss for the third quarter of the year widened to P5.54 billion from the P375.67 million loss it incurred a year earlier, mainly as a result of low passenger traffic.

Its revenues for the third quarter dropped 89.4% to P2.01 billion.

Cebu Air’s shares closed at P51.35 each on Wednesday, gaining five centavos or 0.10%. — Arjay L. Balinbin

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Economy

GROSS BORROWINGS by the National Government had reached P2.75 trillion as of end-October as it continued to raise money for its pandemic response, preliminary...

Economy

By Luz Wendy T. Noble, Reporter THE PHILIPPINE Statistics Authority (PSA) said the base year for the consumer price index (CPI) will change to...

Economy

SOME INDIAN COMPANIES, including those from the pharmaceutical industry, are interested in investing in economic zones in the Philippines, according to an India Business...

Economy

By Keren Concepcion G. Valmonte, Reporter HOSPITALITY GROUPS expect a rebound in tourism as coronavirus disease 2019 (COVID-19) vaccination rates continue to improve and...

Economy

BUSINESSWORLD’s Luz Wendy T. Noble was recognized as the Best Reporter of the Year for Banking at the 30th annual awards of the Economic...

Economy

THE Securities and Exchange Commission (SEC) has flagged eight more entities in separate advisories for their unregistered investment solicitation programs. These offerings are PH...

You May Also Like

Investing

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...

Economy

Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...

Investing

As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Investing

Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...

Disclaimer: SmartRetirementReport.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 SmartRetirementReport. All Rights Reserved.