Cebu Air, Inc.
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- Asian stocks plunge as US, Europe report more coronavirus cases Mar 6, 2020
- All-star Philippine conglomerates contest to upgrade 'worst' airport Mar 9, 2018 See more articles on Cebu Air, Inc.
Company Background
Cebu Air operates Cebu Pacific Air, the Philippines' largest budget carrier. The company is a unit of JG Summit Holdings, a diversified conglomerate controlled by the Gokongwei family. The airline began operating in 1996 with its first domestic flight from Manila to the Philippine central island of Cebu. Its international operations began in 2001 with flights from Manila to Hong Kong. By the end of 2013, the company was operating a network of 60 domestic and 32 international routes, with a total of 2,284 scheduled weekly flights.
In April of this year, the EU removed the airline from a safety blacklist, and in June, the company secured clearance from the Federal Aviation Administration to fly to the U.S.
The airline is headed by CEO Lance Gokongwei, the only son of tycoon John Gokongwei, who founded the JG Summit empire as a corn starch producer. The younger Gokongwei, who holds a double degree in finance and applied science from the University of Pennsylvania, sits on the board of major companies controlled by the Gokongwei family, including those involved in food and beverage, real estate, property, banking and petrochemicals.
Business Summary
Financial Highlights
| Dec 2020 | PHP | USD |
| Revenue | 22,617.96M | 456.00M |
| Gross Profit | -17,549.37M | -353.81M |
| Operating income | -20,769.25M | -418.73M |
| Income before tax | -22,579.41M | -455.22M |
| Net income | -22,236.44M | -448.31M |
| EBITDA | -1,562.56M | -31.50M |
| Diluted EPS | -33.98 | -0.68 |
| Dividends Per Share | 0 | 0 |
| Total Assets | 128,458.58M | 2,674.91M |
| Total liabilities | 105,767.70M | 2,202.41M |
| Total equity | 22,690.87M | 472.49M |
| Operating cash flow | -12,120.18M | -244.35M |
| Currency in PHP | Currency in USD |
Historical Data
| Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | |
| Revenue | 61,899.27M | 68,029.13M | 74,113.77M | 84,806.81M | 22,617.96M |
| Gross Profit | 14,064.24M | 12,244.98M | 9,408.05M | 15,597.45M | -17,549.37M |
| Operating income | 12,251.19M | 10,134.27M | 7,049.88M | 12,621.01M | -20,769.25M |
| Income before tax | 9,537.85M | 8,208.05M | 3,483.16M | 10,217.44M | -22,579.41M |
| Net income | 9,754.13M | 7,907.84M | 3,922.74M | 9,122.95M | -22,236.44M |
| EBITDA | 19,370.99M | 18,183.05M | 16,635.50M | 29,960.17M | -1,562.56M |
| Diluted EPS | 14.73 | 11.94 | 5.95 | 13.92 | -33.98 |
| Dividends Per Share | 2.51 | 4.11 | 6.40 | 0 | 0 |
| Total Assets | 103,456.56M | 111,584.75M | 129,391.48M | 157,732.57M | 128,458.58M |
| Total liabilities | 69,951.28M | 71,799.17M | 89,289.34M | 112,831.59M | 105,767.70M |
| Total equity | 33,505.27M | 39,785.57M | 40,102.13M | 44,900.97M | 22,690.87M |
| Operating cash flow | 19,383.88M | 17,919.94M | 15,360.07M | 29,306.92M | -12,120.18M |
| Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | Dec 2020 | |
| Revenue | 1,303.48M | 1,349.39M | 1,406.79M | 1,637.81M | 456.00M |
| Gross Profit | 296.16M | 242.88M | 178.57M | 301.22M | -353.81M |
| Operating income | 257.98M | 201.01M | 133.81M | 243.74M | -418.73M |
| Income before tax | 200.84M | 162.81M | 66.11M | 197.32M | -455.22M |
| Net income | 205.40M | 156.85M | 74.45M | 176.18M | -448.31M |
| EBITDA | 407.91M | 360.67M | 315.76M | 578.60M | -31.50M |
| Diluted EPS | 0.31 | 0.23 | 0.11 | 0.26 | -0.68 |
| Dividends Per Share | 0.05 | 0.08 | 0.12 | 0 | 0 |
| Total Assets | 2,081.09M | 2,235.27M | 2,460.61M | 3,114.47M | 2,674.91M |
| Total liabilities | 1,407.11M | 1,438.28M | 1,698.00M | 2,227.89M | 2,202.41M |
| Total equity | 673.98M | 796.98M | 762.61M | 886.58M | 472.49M |
| Operating cash flow | 408.18M | 355.45M | 291.55M | 565.98M | -244.35M |
Valuation Measures
| Dec 2020 | |
| PER | -- |
| ROA | -15.53% |
| ROE | -65.79% |
| Operating margin | -91.82% |
| Profit margin | -98.31% |
Key executives
- President, CEO & Executive Director: Lance Yu. Gokongwei
- Chief Operating Officer: Michael Ivan S. Shau
- Chief Finance Officer & Compliance Officer: Andrew L. Huang
- Chief Information Officer: Laureen M. Cansana
- Vice President-Corporate Affairs: Paterno S. Mantaring
Shareholders
- JG Summit Holdings, Inc. (66.6%)
- FIL Investment Management (Singapore) Ltd. (1.7%)
- FIL Investment Management (Hong Kong) Ltd. (1.5%)
- Social Security System (1.4%)
- Matthews International Capital Management LLC (1.0%)
- The Vanguard Group, Inc. (0.8%)
- Dimensional Fund Advisors LP (0.8%)
- Ruffer (Asia) Ltd. (0.5%)
- BlackRock Fund Advisors (0.5%)
- GO JAMES L (0.2%)
Contact Details
- Website:http://www.cebupacificair.com
- Address: Robinsons Galleria Cebu, General Maxilom Avenue, Level 4, Cebu, 6000, Philippines
- Phone: +63.2.880.27000
Related Companies
- 1aviation Groundhandling Services Corp.
- South East Asian Airlines, Inc.
- Aviation Partnership (Philippines) Corp.
Competitors
- PAL Holdings, Inc.
- Thai Airways International Public Co. Ltd.
- Qantas Airways Limited
- Cathay Pacific Airways Limited
- Singapore Airlines Ltd.
- AirAsia Group Bhd.
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Last Updated on 18 Oct, 2021
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