Cathay Pacific 2004 Annual Report Download - page 19

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Cathay Pacific Airways Limited 2004 Annual Report 15
– Group turnover rose by 32.1% on 2003.
– Passenger turnover increased significantly by
41.5% to HK$26,407 million as a result of improved
demand. The number of passengers carried
increased by 35.8% to 13.7 million and revenue
passenger kilometres increased by 33.9%.
– Passenger load factor increased by 5.1 percentage
points to 77.3% while capacity, in terms of
available seat kilometres, increased by 24.9%.
– Passenger yield increased by 5.8% to HK¢45.8.
– First and business class revenues increased by
45.0% and the front end load factor increased
from 57.6% to 63.1%. Economy class revenue
increased by 39.9% and the economy class load
factor increased from 75.0% to 80.0%.
– Cathay Pacific’s cargo turnover increased by 12.0%
to HK$10,549 million. The improvement
represents the continued growth in exports from
Southern China to Europe, Japan and the United
States through Hong Kong.
– Cathay Pacific’s cargo load factor remained
at 68.7% while capacity increased by 13.4%.
Cargo yield decreased by 1.1% to HK$1.76.
– The improvement in Cathay Pacific’s turnover can
be analysed as follows:
– Revenue load factor increased by 3.7 percentage
points to 74.8% while the breakeven load factor
fell by 1.9 percentage points to 65.5%.
– The annualised revenue effect on changes
in yield and load factor is set out below:
HK$M
+24.9% Passenger capacity 4,624
+13.4% Cargo and mail capacity 1,261
+5.1%pt Passenger load factor 1,693
– Cargo and mail load factor –
+5.8% Passenger yield 1,427
-1.1% Cargo and mail yield (129 )
8,876
HK$M
+ 1 percentage point in 340
passenger load factor
+ 1 percentage point in cargo 154
and mail load factor
+ HK¢1 in passenger yield 573
+ HK¢1 in cargo and mail yield 60
REVENUE AND BREAKEVEN LOAD FACTOR