2c. The Chief Executive Officer or CEO of Cebu Pacific Air is Mr. Lance Yu Gokongwei.

He is
the son of Mr. John L. Gokongwei, Jr., the third richest entrepreneur in the Philippines. Lance
Gokongwei received a Bachelor of Science in Economics and a Bachelor of Science in Applied
Science from the University of Pennsylvania. Mr. Lance Gokongwei is also the CEO of
DIGITEL. He has been the Chief Operating Officer and President of URC, Universal Robina
(Cayman), Ltd., URC International Co., Ltd., JGSPC and JG Summit Holdings, Inc. or JGSHI.
He is the Vice-Chairman and Deputy Chief Executive Officer of Robinsons Land Corporation
and LMI; Chairman of Robinsons Savings Bank (RSB), President of Digital Information
Technology Services, Inc. (DITSI), Vice Chairman of JGSCMC, and a director of OPMC, UIC
and Singland. He is a trustee, secretary and treasurer of GBFI.
2f.

The total unappropriated retained earnings reflected in the Statement of Changes in

Equity accumulated to Php 9,016,980,244.00. The appropriated retained earnings reflected in the
Statement of Changes in Equity accumulated to Php 3,916,762,000.00. The appropriated
amounts were Php 2.5 billion, Php483.3 million and Php 933.5 million, respectively, from its
unrestricted retained earnings as of December 31, 2013 for purposes of the Groups re-fleeting
program. The appropriated amount was used for settlement of pre delivery payments and aircraft
lease commitments in 2013; the planned re-fleeting program amount to an estimated Php 68.23
billion which will be spent over the next five years.

2i.

Cebu Pacific Air incurred a net income during the year 2013. The net income stated at the

end of the year 2013 which is reflected in the Statement of Changes in Equity is Php 511,

946,229.00 which is smaller compared to the 2012 net income of Php 3,572,014,263.00 maybe
because a lot of airlines nowadays followed the promos like the ones given by Cebu Pacific Air.

2l.
This research basically tells us that one; we shouldn't take for granted the things that are
discussed in our lectures because as shown in the figures used, it's pretty much what we discuss
in class. Two, we are given the "taste" of the real corporate world since we are able to see the
financial statements of our chosen company. This makes us realize that what we learned from
our lectures are used not only in school but as well as in the corporate world. Third, we should
know the ins and outs of the company/ corporation based on the annual report because all the
transactions of the corporation should be in the annual report. Fourth, if you're in the corporation
or a shareholder of a corporation you should know the people who are running it; you should
know the Board of Directors or BOD because you yourself have voted for them to be in that
position. Lastly, all the topics discussed in class are all important and that we should always
remember those lessons for us to relate to the figures if shown to us in the future. We shouldn't
disregard and forget the lessons because if we ate the ones who will be appointed to report to the
shareholder's the annual report; we would be able to deliver the message properly.