Cebu Pacific continues to lose billions of pesos as travel restrictions cause further turbulence in the airline industry.
, posted a net loss of P7.3 billion in the 1st quarter of 2021, as the Philippines failed to contain COVID-19 cases.
While commercial passenger operations resumed in June 2020, passenger volume is still far below normal levels due to weak demand for travel. Operating expenses were lower by 42.8% to P9.5 billion, while flying operations expenses dropped by 76.7% to P4.7 billion, as Cebu Pacific suspended most of its flights.
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