Cathay Pacific 2003 Annual Report Download - page 64

Download and view the complete annual report

Please find page 64 of the 2003 Cathay Pacific annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 76

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76

62
Notes to the Accounts
-
Supplementay Information
Cathay Pacific Airways Limited Annual Report 2003
27. 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.
2003 2002
Fleet ATKs (in million tonne kilometres) 13,355 12,820
28. COMMITMENTS AND CONTINGENCIES
(a) Outstanding commitments for capital expenditure authorised at the year end but not provided for in
the accounts:
Group Company
2003 2002 2003 2002
HK$M HK$M HK$M HK$M
Authorised and contracted for 3,865 3,609 919 58
Authorised but not contracted for 105 445
-
443
3,970 4,054 919 501
Operating lease commitments are shown in note 9 to the accounts.