Cathay Pacific 2000 Annual Report Download - page 47

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CATHAY PACIFIC AIRWAYS LIMITED ANNUAL REPORT 2000 45
2. Turnover
(continued)
(b)Secondary reporting by business segment
2000 1999
HK$M HK$M
Revenue – external sales
– Passenger services 22,878 18,979
– Cargo services 10,136 8,391
33,014 27,370
Unallocated revenue
– Catering and other services 1,509 1,332
34,523 28,702
The Cathay Pacific Group is engaged in two main business segments: in passenger business
through Cathay Pacific Airways Limited and in freight traffic (“Cargo”) through Cathay Pacific
Airways Limited and AHK Air Hong Kong Limited. Cathay Pacific catering services and other
airline supporting services which supplement the Group’s operating business are included in
unallocated revenue.
Analysis of net assets by business segment:
The major revenue-earning asset of the Group is the aircraft fleet which is jointly used by the
passenger services and cargo services segments. Management considers it is not
appropriate to allocate such assets between the two segments as there is no suitable basis
for so doing. Accordingly, analysis of net assets by business segment is not disclosed.
3. Operating profit
Operating profit has been arrived at after charging/(crediting):
2000 1999
HK$M HK$M
Depreciation of fixed assets
– Leased 2,014 1,816
– Owned 1,424 1,337
Amortisation of intangible assets 93 58
Operating lease rentals
– Land and buildings 357 440
– Aircraft and related equipment 616 410
– Others 37 35
Operating lease income
– Aircraft and related equipment (297) (210)
Cost of stock expended 1,284 1,152
Exchange differences 166 41
Auditors’ remuneration 66
Income from unlisted investments (42) –
Notes to the Accounts – Profit and Loss Account