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Cathay Pacific Airways Limited Annual Report 2002 9
Review of Operations
Cargo services
2002 was a good year for cargo, both in terms of revenue and freight tonnage carried. Growth
was driven by demand for Hong Kong exports to Europe and the United States. Brussels,
Manchester and Milan were added to our freighter network. Cargo revenue contributed
28.4% to Group turnover.
ATK (million) Load factor (%) Yield
2002 2001 Change 2002 2001 Change Change
Cathay Pacific 6,822 5,855 +16.5% 71.2 67.3 +3.9%pt -2.7%
AHK Air Hong Kong 585 1,074 -45.5% 69.1 73.3 -4.2%pt +20.2%
Cathay Pacific Airways Limited
•Cathay Pacific operates a fleet of five B747-400
and six B747-200 freighters to 23 destinations
worldwide. Freight is also carried in the belly
holds of our passenger aircraft.
•During 2002, 851,000 tonnes of freight were
carried, setting a new annual record. Cargo ATKs
grew by 16.5% while load factor for the year
increased to 71.2%.
•Revenue in 2002 increased by 20.4% with
strong export growth from Hong Kong to the
United States, Europe and Asian destinations.
•Yield declined from HK$1.85 to HK$1.80 per
revenue tonne kilometre, due in part to
an increase in the number of lower yield long
haul services.
•Brussels and Manchester were added to Cathay
Pacific’s freighter network following the
integration of AHK operations in July.
•In August, Cathay Pacific launched its first
freighter service to Milan.
•During the year, frequency of flights to Dubai,
Frankfurt, Paris and the United States increased
as demand in these markets grew.
0201009998
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0201009998
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Turnover
HK$ million
Cathay Pacific
AHK Air Hong Kong
Capacity
-
cargo and mail ATK
Million tonne
kilometres
Cathay Pacific
AHK Air Hong Kong