Current Assets

Cash and cash equivalents

Restricted Cash
Receivables
Available-for-sale investments
Short-term investments
Financial asset at fair value through profit or loss
Expendable parts, fuel, materials and supplies
Other current assets

Assets held for sale

Total Current Assets

Non-Current Assets
Property, plant and equipment -net
Right Use of Asset
Advance payments to aircraft manufacturer
Deposits on aircraft leases
Investment properties
Investment in Subsidiaries
Good Will
Investment in a joint ventures and associate
Available-for-sale investments
Deferred income tax assets
Other noncurrent assets
Total Non-Current Assets
Total Assets

Current Liabilities
Short Term Obligations
Current portion of long-term debt
Accounts Payable and other accured liabilities
Accounts Payable and other Accrued expenses and other current liabilities
Derivative financial liability at fair value through profit or loss
Derivative financial liability at fair value through other comprehensive income
Current Portion of Financial Liabilities at fair value thorugh profit or loss
Current Lease Liability
Unearned transportation revenue
Loans payable
Current portion of Liabilities covered by Rehabilitation plan
Due to related parties
Current portion of long-term obligations
Income tax payable
Total Current Liabilities

Non-Current Liabilities
Derivative Financial Liabilities- Net of Current Portion
Travel Fund Payable
Lease Liability
Long-term obligations - net of current portion
Bonds Payable
Retirement Liability
Other Non- Current Liabilities
Total Non-Current Liabilities
Total Liabilities

Equity
Attributable to the equity holders of the parent company:
Common Stock
Capital stock
Capital Paid- In Excess of Par Value
Share- Based Payments
Treasury stock
Remeasurement loss on retirement liability
Other Comprehensice Income (Losses)
Retained Earnings

Non-controlling interests
Total Equity
Total Liabilities and Equity
 CEBU AIR, INC.
STATEMENT OF FINANCIAL POSITION
FOR THE YEARS 2016-2021
2016 2017

₱ 10,296,242,304.00 ₱ 15,613,544,506.00

₱ 2,126,793,862.00 ₱ 1,900,482,578.00

₱ 441,773,905.00 ₱ 454,400,088.00
₱ 1,190,056,987.00 ₱ 1,613,690,533.00
₱ 1,096,270,685.00 ₱ 2,108,954,919.00
₱ 15,151,137,743.00 ₱ 21,691,072,624.00

₱ 15,151,137,743.00 ₱ 21,691,072,624.00

₱ 81,890,303,497.00 ₱ 81,279,292,387.00

₱ 566,781,533.00 ₱ 840,972,438.00
₱ 805,801,372.00 ₱ 566,781,533.00

₱ 1,073,499,679.00 ₱ 891,004,853.00
₱ 1,026,818,459.00 ₱ 3,807,544,443.00
₱ 85,363,204,540.00 ₱ 87,385,595,654.00
₱ 100,514,342,283.00 ₱ 109,076,668,278.00

₱ 12,583,636,942.00 ₱ 14,182,785,839.00

₱ 8,141,752,728.00 ₱ 9,050,351,450.00
₱ 37,689,554.00 ₱ 38,716,423.00
₱ 7,040,253,460.00 ₱ 5,969,257,624.00
₱ 24,152,004.00 ₱ 4,746,325.00
₱ 27,827,484,688.00 ₱ 29,245,857,661.00

₱ 35,770,184,170.00 ₱ 35,012,953,128.00

₱ 568,769,315.00 ₱ 636,961,076.00
₱ 2,842,631,591.00 ₱ 4,395,317,042.00
₱ 39,181,585,076.00 ₱ 40,045,231,246.00
₱ 67,009,069,764.00 ₱ 69,291,088,907.00

₱ 613,236,550.00 ₱ 613,236,550.00

₱ 8,405,568,120.00 ₱ 8,405,568,120.00

-₱ 529,319,321.00 -₱ 529,319,321.00
-₱ 186,025,376.00 -₱ 147,193,496.00

₱ 25,201,812,546.00 ₱ 31,443,287,513.00
₱ 33,505,272,519.00 ₱ 39,785,579,366.00

₱ 33,505,272,519.00 ₱ 39,785,579,366.00
₱ 100,514,342,283.00 ₱ 109,076,668,273.00
CEBU AIR, INC.
T OF FINANCIAL POSITION
THE YEARS 2016-2021
2018 2019

₱ 16,892,650,545.00 ₱ 14,840,780,072.00
₱ -
₱ 2,607,900,691.00 ₱ 2,691,093,872.00
₱ -

₱ 2,010,145,500.00 ₱ 1,974,050,437.00
₱ 4,433,968,752.00 ₱ 3,068,575,006.00
₱ 25,944,665,488.00 ₱ 22,574,499,387.00

₱ 25,944,665,488.00 ₱ 22,574,499,387.00

₱ 95,099,591,115.00 ₱ 59,909,479,825.00
₱ 63,534,856,471.00

₱ 265,109,147.00
₱ 566,781,533.00
₱ 943,781,695.00 ₱ 1,037,769,039.00

₱ 1,484,018,621.00 ₱ 900,028,683.00
₱ 5,352,644,064.00 ₱ 3,971,955,181.00
₱ 103,446,817,028.00 ₱ 129,619,198,346.00
₱ 129,391,482,516.00 ₱ 152,193,697,733.00

₱ 2,612,028,929.00
₱ 16,341,313,165.00
₱ 16,538,880,378.00

₱ 112,805,261.00
₱ 585,770,798.00
₱ 9,810,442,233.00
₱ 11,110,518,032.00 ₱ 10,781,493,415.00
₱ 40,719,770.00 ₱ 177,528,079.00
₱ 6,615,195,647.00
₱ 9,366,597.00 ₱ 197,879,264.00
₱ 34,702,884,009.00 ₱ 40,231,057,559.00

₱ 177,214,864.00 ₱ 13,507,241.00
₱ -
₱ 45,837,902,279.00
₱ 47,182,350,614.00 ₱ 15,637,228,971.00

₱ 491,456,336.00 ₱ 868,775,105.00
₱ 6,735,443,714.00 ₱ 7,107,231,420.00
₱ 54,586,465,528.00 ₱ 69,464,645,016.00
₱ 89,289,349,537.00 ₱ 109,695,702,575.00

₱ 613,236,550.00
₱ 613,236,550.00
₱ 8,405,568,120.00 ₱ 8,405,568,120.00

-₱ 785,536,714.00 -₱ 906,120,840.00
-₱ 140,286,079.00
-₱ 130,711,557.00
₱ 32,009,151,402.00 ₱ 34,516,022,885.00
₱ 7,620,031,406.00 ₱ 42,497,995,158.00

₱ 40,102,133,279.00 ₱ 42,497,995,158.00
₱ 129,391,482,816.00 ₱ 152,193,697,733.00
 2020 2021

₱ 2,439,870,460.00 ₱ 17,436,064,073.00
₱ 1,096,422,478.00 ₱ 1,440,604,130.00
₱ 1,982,571,810.00 ₱ 2,025,383,082.00

₱ 1,872,583,000.00 ₱ 1,747,683,464.00
₱ 2,488,591,267.00 ₱ 2,937,475,750.00
₱ 9,880,039,015.00 ₱ 25,587,210,499.00

₱ 9,880,039,015.00 ₱ 25,587,210,499.00

₱ 50,536,350,060.00 ₱ 44,803,066,677.00

₱ 57,457,125,313.00 ₱ 58,904,641,201.00
₱ 815,049,996.00 ₱ 815,049,996.00

₱ 656,587,567.00 ₱ 612,873,645.00

₱ - ₱ -

₱ 1,211,156,874.00 ₱ 2,889,076,993.00
₱ 375,852,842.00 ₱ 1,918,903,172.00
₱ 111,052,122,652.00 ₱ 109,943,611,684.00
₱ 120,932,161,667.00 ₱ 135,530,822,183.00

₱ 4,802,300,000.00 ₱ 4,462,412,500.00
₱ 1,333,333,321.00 ₱ 1,333,333,333.00

₱ 12,375,050,778.00 ₱ 14,742,024,052.00
₱ 1,730,960,768.00
₱ 32,214,937.00

₱ 9,719,834,689.00 ₱ 7,519,083,563.00
₱ 3,023,643,522.00 ₱ 3,803,878,211.00
₱ 95,042,933.00 ₱ 27,855,289.00

₱ 31,381,420,180.00 ₱ 33,619,547,716.00

₱ 3,432,618,652.00 ₱ 1,850,858,526.00
₱ 41,151,885,674.00 ₱ 51,741,998,410.00
₱ 18,845,791,771.00 ₱ 17,512,458,426.00
₱ 12,184,836,126.00
₱ 427,906,321.00 ₱ 323,198,825.00
₱ 7,886,069,616.00 ₱ 8,167,347,703.00
₱ 71,744,272,034.00 ₱ 91,780,698,016.00
₱ 103,125,692,214.00 ₱ 125,400,245,732.00

₱ 613,236,550.00 ₱ 942,183,918.00
₱ 8,405,568,120.00 ₱ 20,544,153,993.00
₱ - ₱ 174,824,363.00
-₱ 950,881,502.00 -₱ 950,881,502.00

-₱ 53,950,788.00 ₱ 98,822,391.00
₱ 13,152,497,073.00 -₱ 10,678,526,712.00
₱ 21,166,469,453.00 ₱ 10,130,576,451.00

₱ 21,166,469,453.00 ₱ 10,130,576,451.00
₱ 124,292,161,667.00 ₱ 135,530,822,183.00
 STATEME

REVENUE
Sale of air transportation service
Passenger
Cargo
Ancillary revenue

EXPENSES
Depreciation and Amortization
Repairs and maintenance
Flying operations
General and administrative
Aircraft and traffic servicing
Reservation and sales
Passenger service
Aircraft and engine lease

OTHER INCOME (EXPENSES)

Interest income
Gain from:
Insurance claims
Re-measurement of investment in joint venture
Gain (loss) on disposal – net
Hedging Gain (Losses)
Loss from sale of an investment in joint venture
Impairment loss
Market valuation losses on derivative financial instruments – net
Foreign exchange gains (Loss)
Interest Income (expense)
Interest Gain (expense)

EARNINGS (LOSS) BEFORE INCOME TAX

PROVISION (BENEFIT) FROM INCOME TAX
NET INCOME (LOSS)
OTHER COMPREHENSIVE INCOME, NET OF TAX
Other comprehensive income (loss) not to be reclassified to profit or
loss in subsequent periods
Actuarial gains on retirement liability
Net fair value changes on cash flow hedge reserve
Tax effect

TOTAL COMPREHENSIVE INCOME (LOSS)

Basic and Diluted Loss Per Share
 CEBU AIR, INC.
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEARS 2016-2021

2016 2017 2018

₱ 46,592,511,272.00 ₱ 49,931,290,735.00 ₱ 54,259,795,992.00

₱ 3,563,752,865.00 ₱ 4,603,543,430.00 ₱ 5,491,327,591.00
₱ 11,743,014,755.00 ₱ 13,494,297,261.00 ₱ 14,362,653,302.00
₱ 61,899,278,892.00 ₱ 68,029,131,426.00 ₱ 74,113,776,885.00

₱ 5,998,695,417.00 ₱ 6,839,363,607.00 ₱ 7,479,321,315.00

₱ 6,530,857,486.00 ₱ 7,552,583,483.00 ₱ 8,067,957,794.00
₱ 19,694,348,716.00 ₱ 23,861,060,267.00 ₱ 29,912,106,516.00
₱ 1,813,043,477.00 ₱ 2,110,704,952.00 ₱ 2,358,173,730.00
₱ 6,577,984,803.00 ₱ 7,706,352,539.00 ₱ 8,111,170,564.00
₱ 3,211,696,086.00 ₱ 3,674,592,703.00 ₱ 3,829,521,057.00
₱ 1,567,730,427.00 ₱ 1,515,192,403.00 ₱ 1,654,730,940.00
₱ 4,253,724,294.00 ₱ 4,635,003,450.00 ₱ 5,650,909,509.00
₱ 49,648,080,706.00 ₱ 57,894,853,404.00 ₱ 67,063,891,425.00
₱ 12,251,198,186.00 ₱ 10,134,278,022.00 ₱ 7,049,885,460.00

₱ 178,308,842.00 ₱ 140,330,649.00 ₱ 136,264,174.00

-₱ 962,608,741.00 ₱ 102,574,043.00 -₱ 46,466,570.00
₱ 1,587,708,081.00 -₱ 132,570,164.00 -₱ 322,579,940.00

-₱ 2,281,932,689.00 -₱ 797,976,543.00 -₱ 1,632,975,227.00

₱ 113,672,171.00 ₱ 182,952,825.00 ₱ 401,621,150.00
-₱ 1,170,181,141.00 -₱ 1,421,536,504.00 -₱ 2,102,581,740.00
-₱ 2,535,033,477.00 -₱ 1,926,225,694.00 -₱ 3,566,718,153.00

₱ 9,716,164,709.00 ₱ 8,208,052,328.00 ₱ 3,483,167,307.00

-₱ 37,971,487.00 ₱ 300,205,703.00 -₱ 439,577,231.00
₱ 9,754,136,196.00 ₱ 7,907,846,625.00 ₱ 3,922,744,538.00
₱ 11,211,184.00 ₱ 55,474,114.00 ₱ 9,867,738.00
₱ 3,363,357.00 ₱ 16,642,234.00 ₱ 3,363,357.00

₱ 7,847,827.00 ₱ 38,831,880.00 ₱ 6,504,381.00

₱ 9,761,984,023.00 ₱ 7,946,678,505.00 ₱ 3,929,248,919.00

₱ 16.10 ₱ 13.05 ₱ 6.50
 2019 2020 2021

₱ 57,503,535,684.00 ₱ 11,695,375,602.00 ₱ 5,814,598,450.00

₱ 5,676,570,555.00 ₱ 5,179,526,751.00 ₱ 6,203,706,703.00
₱ 17,493,339,788.00 ₱ 5,565,880,704.00 ₱ 4,022,611,714.00
₱ 80,673,446,027.00 ₱ 22,440,783,057.00 ₱ 16,040,916,867.00

₱ 15,397,007,179.00 ₱ 16,016,853,231.00 ₱ 14,253,652,425.00

₱ 28,637,505,674.00 ₱ 8,312,745,909.00 ₱ 9,485,269,607.00
₱ 6,949,346,345.00 ₱ 8,734,413,264.00 ₱ 6,592,616,050.00
₱ 8,898,449,796.00 ₱ 3,151,431,951.00 ₱ 2,945,163,204.00
₱ 2,874,256,697.00 ₱ 3,240,908,466.00 ₱ 2,614,533,034.00
₱ 3,934,910,815.00 ₱ 1,391,272,485.00 ₱ 862,142,366.00
₱ 1,777,615,930.00 ₱ 913,636,263.00 ₱ 599,209,988.00
₱ 313,939,968.00 ₱ 284,665,157.00 ₱ 443,481,483.00
₱ 68,783,032,404.00 ₱ 42,045,926,726.00 ₱ 37,796,068,157.00
₱ 11,890,413,623.00 -₱ 19,605,143,669.00 -₱ 21,755,151,290.00

₱ 544,859,591.00 ₱ 107,166,743.00 ₱ 34,511,348.00

₱ 29,289,061.00
₱ 807,409,620.00 ₱ 138,049,029.00
₱ - ₱ 182,458,444.00 -
-₱ 225,675,379.00 -₱ 259,994,278.00 ₱ 1,388,678,985.00

₱ - -₱ 99,029,580.00 -
₱ - -₱ 43,713,922.00
-₱ 63,352,472.00 -₱ 2,149,932,480.00 -₱ 1,318,117,077.00
₱ 286,017,763.00 ₱ 1,794,545,025.00 -₱ 1,193,082,201.00

-₱ 3,059,708,885.00 -₱ 2,485,031,300.00 -₱ 2,816,181,340.00

-₱ 2,488,570,321.00 -₱ 2,102,407,806.00 -₱ 3,809,855,178.00

₱ 9,401,843,302.00 -₱ 21,707,551,475.00 -₱ 25,565,006,468.00

₱ 937,963,546.00 -₱ 344,025,663.00 -₱ 1,733,982,683.00
₱ 8,463,879,756.00 -₱ 21,363,525,812.00 -₱ 23,831,023,785.00
-₱ 238,029,674.00 ₱ 394,180,573.00 ₱ 181,130,408.00
₱ 256,816,994.00 -₱ 284,522,331.00 ₱ 27,705,335.00
₱ 5,636,196.00 ₱ 32,897,473.00 ₱ 56,062,564.00
₱ 13,151,124.00 ₱ 76,760,769.00 ₱ 152,773,179.00

₱ 8,477,030,880.00 -₱ 21,286,765,043.00 -₱ 23,678,250,606.00

₱ 14.12 ₱ 35.68 ₱ 40.36