Cathay Pacific 2003 Annual Report Download - page 65

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63
Notes to the Accounts
-
Supplementay Information
Cathay Pacific Airways Limited Annual Report 2003
28. COMMITMENTS AND CONTINGENCIES
(continued)
(b) Guarantees in respect of bank loans and other liabilities outstanding at the year end:
Group Company
2003 2002 2003 2002
HK$M HK$M HK$M HK$M
Subsidiary companies
--
916 916
Associated company 19 18 19 18
Staff 420 470 405 470
439 488 1,340 1,404
(c) The Company has under certain circumstances undertaken to maintain specified rates of return within the
Group’s leasing arrangements. The Directors do not consider that an estimate of the potential financial effect
of these contingencies can practically be made.
(d)The Company files tax returns in many jurisdictions and in certain of these the returns have remained in
dispute for a number of years. Provisions have been made to cover the expected outcome of the disputes to
the extent that outcomes are likely and reliable estimates can be made. However, the final outcomes are
subject to uncertainties and resulting liabilities may exceed provisions.