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58 CATHAY PACIFIC AIRWAYS LIMITED ANNUAL REPORT 1998
Notes to the Accounts – Supplementary Information
29. Related party transactions
(continued)
b) Amounts due to and due from associated companies and other related companies at 31st December 1998 are
disclosed in note 14. These balances arise in the normal course of business, are non-interest bearing and have
no fixed repayment terms.
c) At 31st December 1998, the Company has given guarantees relating to long-term loan facilities of
HK$691 million (1997: HK$686 million) held by associated and other related companies.
d) There were no material transactions with Directors, except for those relating to remuneration (note 25) and
shareholdings (Directors’ Report).
30. Waiver from compliance with Listing Rules
Pursuant to Rule 14.04 (8) of the Listing Rules of The Stock Exchange of Hong Kong Limited, that exchange has
granted to the Company a waiver from full compliance with the provisions of Chapter 14 of the Listing Rules,
which relates to notifiable transactions, in relation to the acquisition or disposal of aircraft. As a result of the
waiver, instead of the normal tests under Chapter 14, the test for the Company will be made by reference to
Available Tonne Kilometres (ATKs). The test will be a calculation based on ATKs for aircraft being acquired or
disposed of compared to the aggregate fleet ATKs. ATKs are calculated for each sector by multiplying the capacity,
measured in tonnes available for the carriage of passengers, excess baggage, cargo and mail on that sector, by
the sector distance.
1998 1997
Fleet ATKs (in million tonne kilometres) 10,857 10,399
31. Commitments and contingencies
(a) Outstanding payment commitments in respect of capital items and investments authorised at the end of the
year but not provided for in the accounts amounted to:
Group Company
1998 1997 1998 1997
HK$M HK$M HK$M HK$M
Authorised and contracted for
– aircraft and related equipment 3,476 12,042 3,476 12,042
– investments at Hong Kong International Airport 725 2,218 –71
– others 18 25 –15
4,219 14,285 3,476 12,128
Authorised but not contracted for
– aircraft and related equipment ––––
– investments at Hong Kong International Airport 9587 ––
– others –244 –216
9831 –216
Grand Total 4,228 15,116 3,476 12,344
Notes to the Accounts – Related Party Transactions / Supplementary Information