Cathay Pacific 2007 Annual Report Download - page 97

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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 capital
employed =
Operating profit and share of
profits of associates less taxation
Average of total equity and
net borrowings
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/
Cathay Pacific and Dragonair
ATK of Cathay Pacific/
Cathay Pacific and Dragonair
Cathay Pacific Airways Limited Annual Report 2007 95