Cathay Pacific 1999 Annual Report Download - page 11

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Review of Operations
15CATHAY PACIFIC AIRWAYS LIMITED ANNUAL REPORT 1999
•Approximately 63.5% of our cargo was carried by our passenger aircraft.
•Cargo available tonne kilometres (“ATKs”) grew by 7.6% for freighter aircraft and 1.4% for passenger
aircraft.
•Cathay Pacific Cargo operated an additional 57 non-scheduled services over the year, utilising aircraft
wet-leased from both Air Hong Kong and Atlas Air in order to meet the export demand from Hong Kong
and the region.
•Load factors on the freighter aircraft averaged 79.1% during 1999 while cargo load factors on passenger
aircraft averaged 64.3% . These strong market conditions have continued into 2000.
•Yields on cargo shipments from Hong Kong to all major markets were robust as demand outpaced supply.
•Most North Asian and South East Asian routes saw substantial growth. Loads out of Europe and North
American were, however, relatively weak.
•Cathay Pacific Cargo entered its 18th year of cooperation with Lufthansa between Hong Kong
and Frankfurt.
•The two newly ordered B747-400 freighter aircraft to be delivered in 2000 and 2001 will enable the
airline to grow its operations and contribute further to the consolidation of Hong Kong’s position as Asia’s
leading air cargo centre.
AHK Air Hong Kong Limited (“AHK”)
•AHK, a 75% owned subsidiary, is an all-cargo carrier with scheduled services to Brussels, Dubai, Manchester
and Osaka.
•Its fleet consists of three B747-200 freighters leased from Cathay Pacific.
•The company achieved a satisfactory profit in 1999.
•Increased demand and favourable currency movements led to an improvement in yields.
•AHK continued to achieve productivity improvements and the cost per ATK reduced by 5.9% over 1998.
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9998979695
Turnover
HK$ million
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9998979695
Cargo and mail ATK
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