Cathay Pacific 2001 Annual Report Download - page 13

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Cathay Pacific Airways Limited Annual Report 2001 11
HONG KONG DRAGON AIRLINES LIMITED (“DRAGONAIR”)
ASK/ATK* (million) Load factor (%) Yield
2001 2000 Change 2001 2000 Change Change
Passenger services 5,576 4,885 +14.1% 66.7 66.2 +0.5%pt -0.6%
Cargo services 552 295 +87.1% 71.1 76.2 -5.1%pt -26.2%
*
Capacities of passenger and cargo services are measured in available seat kilometres (“ASK”) and available tonne kilometres (“ATK”)
respectively.
REVIEW OF OPERATIONS
HONG KONG AIRPORT
SERVICES LIMITED (“HAS”)
컄HAS, in which Cathay Pacific holds a 70%
interest, is the leading franchised ramp handling
company at Hong Kong International Airport.
Services include aircraft loading, passenger
steps and air bridge operations, baggage
handling and cargo and mail delivery.
컄With over 30 airline customers, the company
has maintained a market share of over 50%
despite aggressive competition.
컄The company is also contracted to operate
passenger, staff and other bus services for the
Airport Authority.
컄In September, HAS took over responsibility for
load control on Cathay Pacific flights departing
from outports.
컄HAS recorded a satisfactory profit in 2001
despite the increased competition, whilst the
downturn in the fourth quarter also adversely
affected results.
컄Dragonair operates passenger services to 27
destinations in Asia, 18 of which are in Mainland
China.
컄Weekly frequencies to Beijing and Shanghai
were increased to 35 and 48 respectively in the
summer schedule. Additional flights were
operated to major provincial cities in Mainland
China in order to meet demand during the
summer season. A fourth daily service to
Kaohsiung was introduced in March 2001.
Services to Ningbo were resumed in
September.
컄In May the airline commenced a twice weekly
freighter service to Osaka. The freighter service
to Shanghai was increased to twice weekly in
September, whilst the service to Europe via the
Middle East was increased to 5 times a week
in October.
컄Despite reduced traffic following the September
incident in the United States, Dragonair
recorded a 14.5% increase in passenger
revenue and a 0.5 percentage point increase in
passenger load factor in 2001. Passenger yield
decreased marginally by 0.6%.
컄With the commencement of the all-cargo
services in 2000 and the delivery of 2 B747-300
freighters in the second half of 2001, cargo
revenue and tonnage increased by 29.8% and
29.3% respectively. Cargo yield dropped by
26.2% due to weak demand and the
introduction of additional long-haul services.