Cathay Pacific 2000 Annual Report Download - page 17

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CATHAY PACIFIC AIRWAYS LIM ITED ANNUAL REPORT 2000 15
Review of Operations
Cathay Pacific Cargo introduced its ow n
website in October. This provides our
customers facilities for booking cargo space
on-line and tracing the status of their
shipments in real-time. Additional features
will be added in the months ahead.
A new courier service for small parcels,
RPX, was introduced in November in
association with sales agent Linehaul
Express.
AHK Air Hong Kong Limited (“AHK”)
AHK, a 75% ow ned subsidiary, is an
all-cargo carrier w ith scheduled services
to Japan, Europe and the M iddle East.
Services to Seoul w ill commence in the
second quarter of 2001.
The company operates a fleet of three
B747-200 freighters leased from
Cathay Pacific.
The company reported a good profit despite
higher fuel prices and increased
competition.
Capacity increased by 3.9% over 1999,
whilst yields and load factors improved by
1.8% and 6.3 percentage points over 1999
respectively.
Review of affiliated businesses
and associated companies
Cathay Pacific Catering Services (H.K.)
Limited
This w holly-ow ned subsidiary is the largest
flight kitchen in Hong Kong. It serves 33
airlines, representing 64% market share in
airline catering at Hong Kong International
Airport.
The company achieved an encouraging
result with 14.4 million meals produced
during the year. Purchasing and pricing
opportunities are being explored to improve
profit margins.
Hong Kong Airport Services Limited
(“HAS”)
HAS, in w hich Cathay Pacific holds a 70%
interest, is the leading franchised ramp
handling company at Hong Kong
International Airport providing aircraft
loading, passenger steps and air bridge
operations, cargo and mail delivery and
crew transport services.
With over 30 customers, it has maintained
over 50% of market share in an extremely
competitive environment.
The company is also contracted to operate
passenger, staff and other bus services for
the Airport Authority.
The economic upturn generated considerable
traffic grow th in 2000, w hich has resulted in a
good year for the company.