Cathay Pacific 2001 Annual Report Download - page 15

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Cathay Pacific Airways Limited Annual Report 2001 13
The Group’s attributable profit was HK$657 million compared to a profit of HK$5,005 million in
2000. This decline was due to the global economic slowdown, while the tragic events in the United
States in September further reduced the demand for air travel.
FINANCIAL REVIEW
컄Group turnover decreased by 11.8% compared
with 2000.
컄Turnover of passenger services was down by
10.0% to HK$20,580 million as a result of the
reduction in both load factors and yields.
컄Cathay Pacific carried 11.3 million passenger in
2001, representing a 5.0% decrease from 2000.
컄Passenger traffic, measured by revenue
passenger kilometres, decreased by 5.0%
against a 1.4% increase in passenger seat
capacity in terms of available seat kilometres.
As a result, the passenger load factor decreased
from 76.2% to 71.3%.
컄Passenger yield decreased by 5.2% to
HK¢45.7 as a result of weak demand, in
particular for front-end traffic, and adverse
currency movements.
컄First and business class revenues showed a
decrease of 16.9% whilst economy class
revenue fell by 6.3%.
컄Turnover from cargo services declined sharply
by 17.7% to HK$8,343 million. This reflects the
weakening demand for air cargo and the
resultant over-capacity.
TURNOVER
Group Cathay Pacific
2001 2000 2001 2000
HK$M HK$M HK$M HK$M
Passenger services 20,580 22,878 20,580 22,878
Cargo services 8,343 10,136 7,272 8,615
Catering and other services 1,513 1,509
--
Turnover 30,436 34,523 27,852 31,493
Group turnover
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
0100999897
Passenger services
Cargo services
Catering and other services
HK$ million
5%
Catering and
other services
68%
Passenger
services
27%
Cargo
services
Composition of group turnover