Cebu Pacific swings to loss on ‘extraordinary’ fuel cost impact

Cebu Pacific reported a significant operating loss of PHP 2.7 billion ($44.3 million) for the second quarter, citing an “extraordinary” doubling of fuel expenses. This outcome reflects the airline's most challenging operational environment since the pandemic’s conclusion. Fuel costs more than doubled during this period, contributing substantially to the financial setback. The low-cost carrier acknowledged the heightened fuel prices as a key factor in its shift to negative earnings. Cebu Pacific’s performance underscores the considerable impact that volatile energy markets are having on the aviation industry globally.