Cathay Pacific 2009 Annual Report Download - page 30

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Financial Review
27%
Fuel
1%
Net
finance
charges
1%
Commissions
5%
Others
20%
Staff
5%
Inflight service and
passenger expenses
17%
Landing, parking and
route expenses
10%
Aircraft
maintenance
14%
Depreciation
and operating
leases
Total operating expenses
Operating expenses
Group Cathay Pacific and Dragonair
2009
HK$M
2008
(restated)
HK$M Change
2009
HK$M
2008
(restated)
HK$M Change
Staff 12,618 12,428 +1.5% 11,515 11,305 +1.9%
Inflight service and passenger expenses 2,915 3,336 -12.6% 2,915 3,336 -12.6%
Landing, parking and route expenses 10,458 10,823 -3.4% 10,281 10,777 -4.6%
Fuel 17,349 47,317 -63.3% 16,937 46,637 -63.7%
Aircraft maintenance 6,567 7,643 -14.1% 6,411 7,511 -14.6%
Aircraft depreciation and operating leases 7,978 7,211 +10.6% 7,796 7,024 +11.0%
Other depreciation and operating leases 1,103 1,060 +4.1% 867 814 +6.5%
Commissions 571 851 -32.9% 571 851 -32.9%
Exchange gain (344) (30) N/A (356) (13) N/A
Others 3,284 3,485 -5.8% 3,628 3,571 +1.6%
Operating expenses 62,499 94,124 -33.6% 60,565 91,813 -34.0%
Net finance charges 847 1,012 -16.3% 781 907 -13.9%
Total operating expenses 63,346 95,136 -33.4% 61,346 92,720 -33.8%
Group operating expenses decreased by 33.4% to
HK$63,346 million.
•The combined cost per ATK of Cathay Pacific and
Dragonair decreased from HK$3.80 to HK$2.76. This
principally reflected lower average fuel prices and
mark to market gains on fuel hedging contracts.
•
28