CEBU Pacific Air on Thursday, June 1, announced it carried at least 1.82 million passengers during the peak season in April 2017, representing an increase of 2.6 percent as compared to the same period last year.
Bouncing back from a decline in passenger volume in the first quarter of 2017, CEB and its wholly-owned subsidiary Cebgo, recorded a total of 6.63 million during the first four months of this year.
In a statement, the leading budget airline's management said air travelers grew in number during the summer break and the traditional Lenten break and four-day long Labor-Day weekend.
The airline's capacity grew 4.2 percent in April, bringing total growth in the number of seats sold to 3.3 percent from January to April 2017 as it expanded its capacity this year to help promote domestic destinations like Siargao, Masbate and Tablas in Romblon.
CEB also expanded its Visayas-Mindanao route network with direct flights from Cagayan de Oro to Tagbilaran and Bacolod.
"To reach our goal of flying 20 million passengers this year, we remain committed to expanding our domestic route network, where we lead with 37 destinations and we're looking at opportunities to grow our international market where we can meet rising demand and sustain our year-round low fare proposition," lawyer JR Mantaring, vice president for Corporate Affairs of Cebu Pacific, said in the same statement.
CEB also announced it has adopted a dividend payment policy of approximately 20 percent of the previous year's recurring earnings per share. Such policy will be reviewed annually by the company's board of directors after considering the company's results of operations, medium and long term growth and investment strategies, cash flow requirements, and other relevant factors.
CEB announced at its Annual Shareholders Meeting last May 19 that the board of directors approved the declaration of a regular cash dividend in the amount of P1 per share and a special cash dividend in the amount of P1.75 per share, to all stockholders of record as of June 9, 2017. Payment of dividends is set on July 5, 2017.