Cathay Pacific 2001 Annual Report Download - page 18

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16 Cathay Pacific Airways Limited Annual Report 2001
컄Aircraft maintenance costs increased primarily
due to an increase in the fleet size and additional
engine overhaul work.
컄Aircraft depreciation and operating lease costs
increased mainly due to the new aircraft
deliveries and the charter costs incurred during
the disruption in July 2001.
컄Net finance charges increased due to higher
average net borrowings resulting from aircraft
acquisitions.
컄Cathay Pacific’s cost per ATK increased by
1.7% to HK$2.36, whilst the cost per ATK
without fuel rose by 3.8%.
ASSOCIATED COMPANIES
컄The share of profits after tax of associated
companies decreased by 37.6% to
HK$153 million.
컄The decrease was due to lower profits of both
HAECO and Dragonair, as compared with last
year.
DIVIDENDS
컄The total dividend for the year 2001 is
HK$582 million, representing a dividend cover
of 1.1 times. Dividend per share decreased by
73.1% to HK¢17.5.
ASSETS
컄To t al assets as at 31st December 2001
amounted to HK$70,408 million.
컄Additions to fixed assets were HK$7,148 million,
comprising HK$6,870 million for aircraft delivery
payments and HK$278 million for properties and
other equipment.
FINANCIAL REVIEW
HK$ million Times
Group interest cover
0100999897
-1,000
0
1,000
2,000
3,000
4,000
5,000
6,000
-3
0
3
6
9
12
15
18
Operating profit/(loss)
Net finance charges
Interest cover
21%
Current
assets
10%
Properties
and other
equipment
64%
Aircraft
and related
equipment
1%
Intangible
assets
4% Long-term
investments
Group total assets