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Disclaimer
This information provided in this presentation is provided only for your reference. Such information has not been independently verified
and, as such, is not guaranteed to be accurate nor complete. Neither Cebu Air, Inc. (“CEB” or the “Company”) nor any of its affiliates,
shareholders, directors, employees, agents or advisers makes expressed or implied representations or warranties as to the accuracy or
completeness of the information contained herein and neither of them shall accept any responsibility or liability (including any third
party liability) for any loss or damage, whether or not arising from any error or omission in compiling such information or as a result of
any party’s reliance or use of such information. The information and opinions in this presentation are subject to change without notice.
EBITDAR, EBITDA, EBITDAR Margin, EBIT and core net income are not measures of performance under the Philippine Financial Reporting
Standards (“PFRS”), and should not be considered in isolation or as alternatives to net income as an indicator of CEB’s operating
performance or to cash flow from operating, investing and financing activities as a measure of liquidity, or any other measures of
performance under PFRS. Because there are various EBITDAR, EBITDA, EBITDAR Margin, EBIT and core net income calculation methods,
CEB’s presentation of these measures may not be comparable to similarly titled measures used by other companies.
This presentation also contains certain “forward-looking statements.” These forward-looking statements include words or phrases such
as CEB or its management “believes”, “expects”, “anticipates”, “intends”, “plans”, “foresees”, or other words or phrases of similar import.
Similarly, statements that describe CEB’s objectives, plans or goals are also forward-looking statements. All such forward-looking
statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those contemplated by
the relevant forward-looking statement. Such forward looking statements are made based on management’s current expectations or
beliefs as well as assumptions made by, and information currently available to, management. There is no assurance that expected
events will occur, that projections will be achieved, or that the Company and its management’s assumptions are correct.
17 August 2015 2
Business Updates
Operating Statistics
• CEB flew 4.9M passengers in 2Q15, up 4.3% YOY, and 9.2M in 1H15, up 8.2%
• We posted 84.5% seat load factor in 2Q15 and 81.8% in 1H15
• We utilized our airbus fleet 12.7 hours per day and turned them 6.7x per day.
• On-time performance (OTP) posted at 70.3% for 2Q15
• For 2Q15, RPK grew 19.5% YOY, and ASK grew 24.2%
• As of June 30, 2015: 62 destinations, 93 routes, and 2,631 weekly flights
Load
88.4% 84.5% 85.7% 81.8%
Factor
9.2
8.5
2.1
1.9
Passengers (M)
4.7 4.9
1.0 1.1
6.6 7.1
3.7 3.8
17 August 2015 4
Domestic Market
Average Domestic Market Share
17 August 2015 5
Short Haul International
Destination Weekly Flights Seat Share
17 August 2015 6
Long Haul Operations
Destination Weekly Seat Share(2) Sydney Passenger YOY Traffic Growth Sep-May
Flights(1) 232,876
78,992 PAL
Kuwait 4x 100% 72,437
Cebu Pacific
Riyadh 3x 22.8%
71,745 85,264
Doha 2x 24.6%
(1) Subject to seasonal adjustments; (2) Seat share based on non-stop 2013/14 2014/15
flights
Source: Australia BITRE data
NOTE:
(1) Includes current and noncurrent portion of long-term debt
(2) Net debt is total debt less cash and cash equivalents.
(3) Adjusted net debt is net debt plus capitalized lease and ARO liability
17 August 2015 10
Cash Flows
Php Millions 1H2015
CASHFLOWS FROM OPERATING ACTIVITIES
Income after noncash adjustments 8,826
Net changes in working capital (998)
Interest and taxes paid – net (509)
Net cash provided by operating activities 7,319
17 August 2015 11
Outlook
Fuel, Forex and Forward Bookings
Fuel
• As of August 12, 2015, Jet Kero at $58.05/bbl Jet Kero Front-Month Closings
from $70.38/bbl in December 31, 2014, and 85
Forex 65
17 August 2015 13
Fleet Expansion
56 59
52 55
3 Ave. fleet age(1)
5 6 6 6
4.60 years
8 8 10 11
7 7 7 4
32 34 33 35
• Between 2015 to 2022: Total remaining order book of 7 A320, 30 A321 NEO, and 16 ATR 72-600 (2)
• 6 A319 to be sold (2015-2016)
• 7 A320 for lease return (2017-2019)
• 8 ATRs to be replaced (2017-2018)
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