Cebu Air Posts Rise In Q1 Profit

reported a rise in its net profit for the first quarter. Cebu Air's quarterly net profit surged to 2.23 billion pesos ($50 million), versus a year-ago profit of 164.2 million pesos. Its revenue climbed 21 percent to 14.2 billion pesos. Its expenses rose 1 percent to 11.37 billion pesos. Aviation-fuel expenses declined 22 percent to 4.33 billion pesos.