Cathay Pacific 2000 Annual Report Download - page 22

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20 CATHAY PACIFIC AIRWAYS LIM ITED ANNUAL REPORT 2000
Operating expenses
Group Cathay Pacific
2000 1999 2000 1999
HK$M HK$M Change HK$M HK$M Change
Staff 7,482 7,299 +2.5% 6,742 6,511 +3.5%
Inflight service and passenger
expenses 1,677 1,381 +21.4% 1,677 1,381 +21.4%
Landing, parking and route expenses 5,079 4,971 +2.2% 4,724 4,642 +1.8%
Fuel 5,770 3,641 +58.5% 5,319 3,357 +58.4%
Aircraft maintenance 2,920 2,714 +7.6% 2,796 2,533 +10.4%
Aircraft depreciation and
operating leases 3,264 2,855 +14.3% 3,127 2,711 +15.3%
Other depreciation and
operating leases 980 1,031 -4.9% 726 773 -6.1%
Commissions 719 663 +8.4% 711 657 +8.2%
Exchange loss 166 41 +304.9% 160 38 +321.1%
Others 1,177 1,295 -9.1% 686 935 -26.6%
Operating expenses 29,234 25,891 +12.9% 26,668 23,538 +13.3%
Net finance charges 367 918 -60.0% 307 855 -64.1%
Total operating expenses 29,601 26,809 +10.4% 26,975 24,393 +10.6%
Staff costs increased due to the increase in
staff numbers arising from planned
capacity grow th and the re-introduction of a
profit sharing scheme.
Inflight service and passenger expenses
increased as a result of the higher
passenger numbers.
Financial Review
Landing, parking and route expenses
increased due to additional flights; low er
landing and parking charges at Hong Kong
International Airport helped reduce the
overall increase.
Fuel costs increased as a result of higher
fuel prices.
Cathay Pacific: total operating expenses
18% Landing, parking and route expenses
25% Staff
6% Inflight service and passenger expenses
14% Depreciation and operating leases
3% Others
1% Net finance charges
3% Commissions
20% Fuel
10% Aircraft maintenance