Cathay Pacific 2009 Annual Report Download - page 23

Download and view the complete annual report

Please find page 23 of the 2009 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 108

  • 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
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

Review of Operations
CARGO SERVICES | ASIA MILES
Capacity – cargo and mail ATK*
HK$ million
0
8,000
4,000
12,000
16,000
20,000
24,000
2005 2006 2007 2008 2009
Turnover*
Million tonne
kilometres
0
4,000
6,000
2,000
8,000
10,000
12,000
14,000
2005 2006 2007 2008 2009
* Includes Dragonair from 1st October 2006.
Demand for air cargo was substantially reduced as a result of the global economic
downturn. All major markets were affected, particularly in the first half of the year,
when the resultant drop in volumes put pressure on prices and therefore on yields
and revenue. Demand improved from October onwards, albeit from a low base and
this, combined with capacity reductions as the industry parked equipment, helped to
increase load factors, yields and revenue. In 2009, cargo and mail tonnage for
Cathay Pacific and Dragonair fell by 7.1% to 1,527,948 tonnes, while capacity was
reduced by 13.1%. Group cargo revenue fell by 29.9% to HK$17,255 million while
yield of Cathay Pacific and Dragonair fell by 26.8% to HK$1.86.
Available tonne kilometres (“ATK”), load factor and yield for
Cathay Pacific and Dragonair cargo services for 2009 were as follows:
ATK (million) Load factor (%) Yield
2009 2008 Change 2009 2008 Change Change
Cathay Pacific and Dragonair 11,666 13,425 -13.1% 70.8 65.9 +4.9%pt -26.8%
Cathay Pacific Airways Limited Annual Report 2009 21