Cebu Air Inc., the operator of Cebu Pacific and Cebgo said it has refunded a total of P2.7 billion for cancelled flights due to the coronavirus disease 2019 (COVID-19) pandemic.
The Gokongwei-led airline said it continues to process a high volume of refund requests due to COVID-19 related flight cancellations.
“We have refunded an additional P300 million since our last update, for a total of P2.7 billion, and are currently processing refund requests filed in June,” it added.
“To ensure CEB continues to provide affordable and accessible air transport services in the years to come, we have been working on raising fresh capital,” Cebu Pacific said.
The airline said it remains fully committed to close off pending refunds at the earliest possible time.
“ Updates will be provided to our passengers once their requests have been processed,” Cebu Pacific said.
“We understand how difficult this situation is for everyone, and we sincerely apologize for the delay. As the aviation industry gradually restarts and reshapes amidst this new normal, we hope for your continued patience and understanding, as refunds may still take up to six months from the time the request was filed,” the airline said.
Cebu Pacific said it is continuously enhancing its processes for a better overall customer experience.
The airline earlier announced that it is raising up to $500 million additional capital to ensure that it is well-positioned to recover from the impact of COVID-19.
The airline is raising capital as part of its multi-pronged approach to working with capital providers, creditors, suppliers and all other stakeholders, especially its employees, to further strengthen its financial position in the midst of this COVID-19 crisis.
Cebu Pacific added that the capital raising exercise will provide the airline with the needed runway to withstand the financial challenges it faces as it slowly goes back to pre-COVID business levels and settles into the “new normal.”