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82 Cathay Pacific Airways Limited Annual Report 2005
28. Impact of new accounting standards
With the adoption of the new and revised HKAS and HKFRS and their transitional provisions as described in
accounting policies 2, 6, 10, and 15, the consolidated profit and loss account for 2005 and 2004 has been affected
as follows:
2005 2004
HKFRS3 HKAS39 HKAS1 Total HKAS1
HK$M HK$M HK$M HK$M HK$M
Turnover
Passenger services – (20) – (20) –
Cargo services – (4) – (4) –
Catering, recoveries and other services – – 6,446 6,446 3,696
Total turnover – (24) 6,446 6,422 3,696
Expenses
Staff – – – – –
Inflight service and passenger expenses – – (250) (250) (192)
Landing, parking and route expenses – – (970) (970) (797)
Fuel – (107) (3,948) (4,055) (1,485)
Aircraft maintenance – – – – –
Aircraft depreciation and operating leases – – (11) (11) (23)
Other depreciation and operating leases 17 – – 17 –
Commissions – – – – –
Others – 251 (1,267) (1,016) (1,199)
Operating expenses 17 144 (6,446) (6,285) (3,696)
Operating profit 17 120 – 137 –
Finance charges – 72 – 72 –
Finance income – 7 – 7 –
Net finance charges – 79 – 79 –
Share of profits of associates – – (50) (50) (58)
Profit before tax 17 199 (50) 166 (58)
Taxation – – 50 50 58
Profit for the year 17 199 – 216 –
Profit attributable to
Cathay Pacific shareholders 17 199 – 216 –
Minority interests – – – – –
17 199 – 216 –
Earnings per share
Basic 0.5¢ 5.9¢ – 6.4¢ –
Diluted 0.5¢ 5.9¢ – 6.4¢ –
Notes to the Accounts Supplementary Information