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Cathay Pacific Airways Limited Annual Report 2003 41
Notes to the Accounts
1. NATURE OF OPERATIONS AND PRINCIPAL ACTIVITIES
The Group is predominantly managed and controlled in Hong Kong. As well as operating scheduled airline
services, the Group is engaged in other related areas including airline catering, aircraft handling and
engineering. The airline operations are principally to and from Hong Kong, which is where most of the Group’s
other activities are also carried out.
2. TURNOVER
Turnover comprises revenue from transportation services, airline catering and other services provided to
third parties.
(a) Primary reporting by geographical segment
2003 2002
HK$M HK$M
Turnover by origin of sale:
North Asia
-
Hong Kong and Mainland China 12,022 12,424
-
Japan, Korea and Taiwan 5,208 6,979
South East Asia and Middle East 3,395 4,082
Europe 3,551 3,909
Pacific and South Africa 5,402 5,696
29,578 33,090
South East Asia and Middle East includes Singapore, Indonesia, Malaysia, Thailand, the Philippines, Vietnam,
Indian sub-continent and Middle East. Europe includes Continental Europe, United Kingdom, Scandinavia,
Russia, Baltic and Turkey. Pacific and South Africa includes U.S.A., Canada, Latin America, Australia, New
Zealand and Southern Africa.
Analysis of turnover and profit by geographical segment:
The analysis of turnover by origin of sale is derived by allocating revenue to the area in which the sale was
made. Management considers that it is not meaningful to allocate cost on this basis and accordingly segment
results are not disclosed.
Analysis of net assets by geographical segment:
The major revenue earning asset is the aircraft fleet which is registered in Hong Kong and is employed across
its worldwide route network. Management considers that there is no suitable basis for allocating such assets
and related liabilities to geographical segments. Accordingly, segment assets, segment liabilities and other
segment information is not disclosed.