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17
Cathay Pacific Airways Limited Annual Report 2005
Revenue and breakeven load factor
2001 2002 2003 2004 2005
%
Breakeven load factor
Revenue load factor
50
55
60
65
70
75
80
• Group turnover rose by 19.1% on 2004.
• Passenger turnover increased significantly by 14.6%
to HK$30,274 million as a result of strong demand.
The number of passengers carried increased by
13.0% to 15.4 million and revenue passenger
kilometres increased by 13.7%.
• Passenger load factor increased by 1.4 percentage
points to 78.7% while capacity, in terms of available
seat kilometres, increased by 11.8%.
• Passenger yield increased by 1.1% to HK¢46.3.
• First and business class revenues increased by
19.1% and the front-end load factor increased from
63.1% to 66.0%. Economy class revenue increased
by 12.5% and the economy class load factor
increased from 80.0% to 80.9%.
• Cathay Pacific’s cargo turnover increased by 9.8%
to HK$11,585 million as the demand of exports
from Mainland China through Hong Kong remained
strong though slowed in the second half in the face
of high fuel prices.
• Cathay Pacific’s cargo load factor decreased by
1.7 percentage points while capacity increased by
12.9%. Cargo yield decreased by 0.6% to HK$1.75.
• The improvement in Cathay Pacific’s traffic turnover
can be analysed as follows:
HK$M
+11.8% Passenger capacity 3,086
+12.9% Cargo and mail capacity 1,364
+1.4%pt Passenger load factor 501
-1.7%pt Cargo and mail load factor (291)
+1.1% Passenger yield 279
-0.6% Cargo and mail yield (36)
4,903
• Revenue load factor increased by 0.4 percentage
points to 75.2% while the breakeven load factor
increased by 3.8 percentage points to 69.3%.
• The annualised revenue effect on changes in yield
and load factor is set out below:
HK$M
+ 1 percentage point in 383
passenger load factor
+ 1 percentage point in 173
cargo and mail load factor
+ HK¢1 in passenger yield 651
+ HK¢1 in cargo and mail yield 66
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