Cathay Pacific 2009 Annual Report Download - page 63

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3. Operating profit/(loss)
2009
HK$M
2008
(restated)
HK$M
Operating profit/(loss) has been arrived at after charging/(crediting):
Depreciation of fixed assets
– Leased 1,932 1,939
– Owned 3,720 3,230
Amortisation of intangible assets 32 26
Operating lease rentals
– Land and buildings 668 613
– Aircraft and related equipment 2,707 2,436
– Others 22 27
Operating lease income
– Aircraft and related equipment –(48)
Cost of stock expensed 1,892 1,836
Exchange differences (344) (30)
Auditors’ remuneration 10 10
Net (gain)/loss on financial assets and liabilities classified as held for trading (3,082) 7,374
Net (gain)/loss on financial assets and liabilities designated as at fair value through
profit and loss (58) 531
Income from unlisted investments (170) (114)
Income from listed investments (5) (3)
4. Net finance charges
2009
HK$M
2008
HK$M
Net interest charges comprise:
– Obligations under finance leases stated at amortised cost 991 1,226
– Interest income on related security deposits, notes and bonds (417) (502)
574 724
– Bank loans and overdrafts 229 473
– Other loans wholly repayable within five years 91 111
894 1,308
Income from liquid funds:
– Funds with investment managers and other liquid investments (43) (194)
– Bank deposits and other receivables (62) (284)
(105) (478)
Fair value change:
– Obligations under finance leases designated as at fair value through profit and loss (58) 531
– Financial derivatives 116 (349)
58 182
847 1,012
Finance income and charges relating to defeasance arrangements have been netted off in the above figures.
Notes to the Accounts STATEMENT OF COMPREHENSIVE INCOME
Cathay Pacific Airways Limited Annual Report 2009 61