Cebu Pacific has sent nine aircraft for indefinite storage at the Asia Pacific Aircraft Storage in Alice Springs, Australia as part of its cost mitigation measures.
“We need to make sure that it stored in a facility that will minimize damage and once the demand comes back we can easily brings the aircraft back to the line,” Candice Iyog, vice president for marketing and distribution at Cebu Pacific said in a virtual briefing.
These are comprised of seven Airbus A321CEOs and two A330s.
“CEB is looking to put more aircraft on indefinite storage but this is till under study given volatility in market demand and travel restrictions,” Iyog said.
Cebu Pacific earlier reported a net loss of P1.18 billion in the January to March period from the P3.35 billion net income earned in the same period last year.
The company’s revenue amounted to P15.91 billon during the period, down by 24.9 percent from the P21.77 billion in the same period last year.
Passenger revenues decreased by 27.4 percent to P11.38 billion from P15.679 billion earned in the three months ended March last year.
The Group saw a 16.5 percent drop in passenger traffic from 5.3 million to 4.4 million driven by lesser number of flights by 14.7 percent coupled with a 2.9 percentage points decrease in seat load factor from 84.2 percent to 81.3 percent.