Cebu Pacific loses P1.18 billion in Q1 of 2020

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Piso Fare Promo - The COVID19 pandemic has caused the low cost airline, Cebu Pacific a net loss of about Php 1.18 billion in the 1st Quarter of the year 2020. That is around 135% sharp drop in earnings. This could be due to flight suspension for both their domestic and international routes.

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On wednesday, April 29, the company has posted a disclosure of the said net loss amounting to Php 1.18 billion to the Philippine Stock Exchange or PSE. The percentage drop is lower than Php 3.36 billion they earned a revenue on the same period being compared to the previous year.