Cathay Pacific 1999 Annual Report Download - page 16

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Financial Review
20 CATHAY PACIFIC AIRWAYS LIMITED ANNUAL REPORT 1999
•Group turnover was up by 7.9% compared with last year.
•For passenger services, Group turnover rose by 2.4% to HK$18,979 million as a result of improved load
factors and stabilising yields.
•The number of passengers carried increased by 2.1% to 10.5 million.
•Passenger traffic (measured by revenue passenger kilometres) increased by 2.0% against a 3.6% decrease in
passenger seat capacity (measured by available seat kilometres), which resulted in an increase in the passenger
load factor from 67.5% to 71.4%.
•Passenger yield continued to be under pressure. Stronger foreign currencies, however, helped to achieve an
increase of 0.4% to HK¢45.4.
•Business class revenue increased by 7.3% whilst first class and economy class revenues showed smaller
increases.
•Cargo business reported an encouraging growth of 20.6% to HK$8,391 million. This reflects the strong
demand for exports from Asian countries.
•Cathay Pacific’s cargo and mail load factor increased by 6.3 percentage points to 71.5% as cargo and mail
tonne kilometres rose by 14.3% against a slight increase of 4.3% in capacity. AHK Air Hong Kong’s load
factor decreased by 7.3 percentage points to 67.6%.
•At the Cathay Pacific company level, the increase in turnover of HK$1,780 million was a result of:
HK$M
3.6% decrease in passenger capacity (667)
4.3% increase in cargo and mail capacity 244
3.9% pt increase in passenger load factor 1,037
6.3% pt increase in cargo and mail load factor 577
0.4% increase in passenger yield 76
11.8% increase in cargo and mail yield 513
1,780
•Market improvements in 1999 gave rise to an increase in the
Company’s revenue load factor of 4.4 percentage points to 71.5% .
•Cathay Pacific’s traffic turnover sensitivity is set out below:
Annual effects of:
HK$M
One percentage point change in passenger load factor at 1999 passenger yield 264
One percentage point change in cargo and mail load factor at 1999 cargo and mail yield 99
One Hong Kong cent change in passenger yield per revenue passenger kilometre at
1999 passenger load factor 415
One Hong Kong cent change in cargo and mail yield per cargo and mail tonne kilometre at
1999 cargo and mail load factor 38
30
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60
70
80
9998979695
Revenue load factor
%