Cathay Pacific 2006 Annual Report Download - page 18

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2002 2003 2004 2005 2006
0
6,000
2,000
4,000
8,000
10,000
14,000
12,000
Turnover
HK$ million
Cathay Pacific set new revenue and tonnage records as cargo capacity increased by
5.2%. Cargo yield dropped by 3.4% in the face of weak demand for exports out of
Australia, Europe and the United States. Growth in cargo tonnage out of Mainland
China remained strong despite a significant increase in competitor capacity. Hong
Kong faces increasing competition from new airports in the region but remains the
leading gateway to the Pearl River Delta with good prospects for further growth.
CATHAY PACIFIC
ATK (million) Load factor (%) Yield
2006 2005 Change 2006 2005 Change Change
Cathay Pacific 10,391 9,879 +5.2% 68.3 67.0 +1.3%pt -3.4%
• Two additional Boeing 747-400BCF aircraft
were added to the fleet. At the end of 2006 we
operated a fleet of seven Boeing 747-200Fs, six
Boeing 747-400Fs and three Boeing 747-400BCFs.
• The airline will take delivery of three more Boeing
747-400BCFs in 2007 and has exercised options to
convert two more aircraft for delivery in 2008 and
2009. The airline has options on four more conversions.
• In addition, the airline has ordered six Boeing
747-400ERFs for delivery in 2008 and 2009.
• New freighter services were launched to Beijing,
Chennai, Stockholm and Toronto, bringing the total
number of freighter destinations to 31.
• High fuel prices had a negative effect on the
profitability of our older Boeing 747-200F freighter
fleet. The adverse impact of high fuel prices was
only partially offset by fuel surcharges.
• CAPA named Cathay Pacific as its “Cargo Airline
of the Year” for having the most impact on the
development of the region’s air cargo industry.
Cathay Pacific Airways Limited Annual Report 2006
16
Review of Operations Cargo Services