Cathay Pacific 2006 Annual Report Download - page 97

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95
Cathay Pacific Airways Limited Annual Report 2006
Glossary
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.
Recoveries Cost recoveries from surcharges and
incidental activities.
Ratios
Earnings/(loss)
per share =
Profit/(loss) attributable to
Cathay Pacific shareholders
Weighted average number
of shares (by days) in issue
for the year
Profit/(loss) margin =
Profit/(loss) attributable to
Cathay Pacific shareholders
Turnover net of recoveries
Shareholders’ funds
per share =
Funds attributable to Cathay
Pacific shareholders
Total issued and fully paid
shares at end of the year
Return on average
shareholders’ funds =
Profit/(loss) attributable to
Cathay Pacific shareholders
Average funds attributable to
Cathay Pacific shareholders
Dividend cover =
Profit/(loss) attributable to
Cathay Pacific shareholders
Dividends
Interest cover = Operating profit/(loss)
Net finance charges
Gross debt/
equity ratio =Borrowings
Funds attributable to Cathay
Pacific shareholders
Net debt/
equity ratio =Net borrowings
Funds attributable to Cathay
Pacific shareholders
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 net
operating expenses.
Passenger/Cargo
and mail yield =
Passenger turnover/
Cargo and mail turnover
Revenue passenger kilometres/
Cargo and mail tonne
kilometres
Cost per ATK =
Total net operating
expenses of Cathay Pacific
ATK of Cathay Pacific