Cathay Pacific 2001 Annual Report Download - page 39

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Cathay Pacific Airways Limited Annual Report 2001 37
2. TURNOVER
(CONTINUED)
(b) Secondary reporting by business segment
2001 2000
HK$M HK$M
Revenue
-
external sales
-
Passenger services 20,580 22,878
-
Cargo services 8,343 10,136
28,923 33,014
Unallocated revenue
-
Catering and other services 1,513 1,509
30,436 34,523
The Cathay Pacific Group is engaged in 2 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
2 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):
2001 2000
HK$M HK$M
Depreciation of fixed assets
-
Leased 2,417 2,014
-
Owned 1,467 1,424
Amortisation of intangible assets 111 93
Operating lease rentals
-
Land and buildings 339 357
-
Aircraft and related equipment 753 616
-
Others 41 37
Operating lease income
-
Aircraft and related equipment (160) (297)
Cost of stock expensed 1,281 1,284
Exchange differences (100) 166
Auditors’ remuneration 66
Income from unlisted investments (64) (42)
NOTES TO THE ACCOUNTS
-
PROFIT AND LOSS ACCOUNT