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Cebu Air, Inc. (OTCPK:CEBUY) Q3 2025 Earnings Call November 13, 2025 2:00 AM EST Company Participants Michael Szucs - Chief Executive Officer Trina Asuncion - Vice President for Controllership, Financial Analytics & Investor Relations Alexander Lao - President, Chief Commercial Officer & Director Mark Julius Cezar - Chief Financial Officer Presentation Michael Szucs Chief Executive Officer Good day, everyone. Welcome to Cebu Pacific's investor briefing for the third quarter of 2025.

Cebu Pacific's stock is upgraded to a strong buy due to improved EBITDA estimates, cash flow performance, and a share repurchase program. Despite a 14% drop in OTC value, the stock rose 12% on the Philippine Stock Exchange, reflecting better liquidity and currency adjustments. Operational challenges include grounded aircraft due to engine issues and cost pressures, but long-term projections for 2025 are optimistic.

Airline stocks face challenges, with high costs and pressured unit revenues, squeezing margins from both sides, making them less attractive for investment. Cebu Pacific operates a successful low-cost model with strong domestic market share but faces rising costs and currency fluctuation risks. Despite growth opportunities and a significant order book, Cebu Pacific's stock is undervalued with limited upside, making it an unattractive investment.
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