Cathay Pacific 2004 Annual Report Download - page 75

Download and view the complete annual report

Please find page 75 of the 2004 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 77

  • 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
  • 77

Glossary
Cathay Pacific Airways Limited 2004 Annual Report 71
TERMS
Borrowings Total borrowings (loans and lease
obligations) less security deposits, notes and zero
coupon bonds.
Net borrowings Borrowings and bank overdrafts less
liquid funds.
Available tonne kilometres (“ATK”) Overall capacity,
measured in tonnes available for the carriage of
passengers, excess baggage, cargo and mail on each
sector multiplied by the sector distance.
Available seat kilometres (“ASK”) Passenger
seat capacity, measured in seats available for the
carriage of passengers on each sector multiplied by
the sector distance.
Revenue passenger kilometres (“RPK”) Number of
passengers carried on each sector multiplied by the
sector distance.
Revenue tonne kilometres (“RTK”) Traffic volume,
measured in load tonnes from the carriage of
passengers, excess baggage, cargo and mail on each
sector multiplied by the sector distance.
On-time performance Departure within 15 minutes of
scheduled departure time.
EBITDA Earnings before interest, tax, depreciation and
amortisation.
Earnings/(loss)
per share =
Profit/(loss) attributable to
shareholders
Weighted average number
of shares (by days) in issue
for the year
Profit/(loss) margin =
Profit/(loss) attributable to
shareholders
Turnover
Shareholders’
funds per share =Shareholders’ funds
Total issued and fully paid
shares at end of the year
Return on average
shareholders’ funds =
Profit/(loss) attributable to
shareholders
Average shareholders’ funds
Dividend cover =
Profit/(loss) attributable to
shareholders
Dividends
Interest cover = Operating profit/(loss)
Net finance charges
Gross debt/equity
ratio =Borrowings
Shareholders’ funds
Net debt/equity ratio = Net borrowings
Shareholders’ funds
Passenger/Cargo
and mail load factor=
Revenue passenger
kilometres/Cargo and mail
tonne kilometres
Available seat kilometres/
Available cargo and mail
tonne kilometres
Revenue load factor =
Total passenger, cargo
and mail traffic revenue
Maximum possible revenue
at current yields and capacity
Breakeven load
factor
=
A theoretical revenue load
factor at which the traffic
revenue equates
to the operating cost.
Passenger/Cargo
and mail yield
=
Passenger turnover/
Cargo and mail turnover
Revenue passenger
kilometres/Cargo and mail
tonne kilometres
Cost per ATK
=
Total operating expenses
of Cathay Pacific
ATK of Cathay Pacific
RATIOS