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58 Cathay Pacific Airways Limited Annual Report 2002
28. WAIVER FROM COMPLIANCE WITH LISTING RULES
Pursuant to Rule 14.04 (8) of the Listing Rules, the Stock Exchange has granted to the Company a waiver from
full compliance with the provisions of Chapter 14 of the Listing Rules, which relates to notifiable transactions, in
relation to the acquisition or disposal of aircraft. As a result of the waiver, instead of the normal tests under
Chapter 14, the test for the Company will be made by reference to Available Tonne Kilometres (ATKs). The test
will be a calculation based on ATKs for aircraft being acquired or disposed of compared to the aggregate fleet
ATKs. ATKs are calculated for each sector by multiplying the capacity, measured in tonnes available for the
carriage of passengers, excess baggage, cargo and mail on that sector, by the sector distance.
2002 2001
Fleet ATKs (in million tonne kilometres) 12,820 11,827
29. COMMITMENTS AND CONTINGENCIES
(a) Outstanding payment commitments in respect of capital items and investments authorised at the end of the
year but not provided for in the accounts amounted to:
Group Company
2002 2001 2002 2001
HK$M HK$M HK$M HK$M
Authorised and contracted for
-
aircraft and related equipment 3,605 121 58 121
-
others 41
--
3,609 122 58 121
Authorised but not contracted for
-
aircraft and related equipment 443 105 443 105
-
others 2
---
445 105 443 105
4,054 227 501 226
These Group commitments are expected to be paid as follows: HK$M
2003 3,189
2004 826
Beyond 2004 39
4,054
Operating lease commitments are shown in note 10.
Notes to the Accounts
-
Supplementary Information