Cathay Pacific 2010 Annual Report Download - page 28

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26
Operating expenses
Group Cathay Pacific and Dragonair
2010
HK$M
2009
HK$M Change
2010
HK$M
2009
HK$M Change
Staff 13,850 12,618 +9.8% 12,655 11,515 +9.9%
Inflight service and passenger expenses 3,308 2,915 +13.5% 3,308 2,915 +13.5%
Landing, parking and route expenses 11,301 10,458 +8.1% 11,104 10,281 +8.0%
Fuel 28,276 17,349 +63.0% 27,705 16,937 +63.6%
Aircraft maintenance 7,072 6,567 +7.7% 6,921 6,411 +8.0%
Aircraft depreciation and operating leases 8,288 7,978 +3.9% 8,120 7,796 +4.2%
Other depreciation, amortisation
and operating leases 1,107 1,103 +0.4% 881 867 +1.6%
Commissions 736 571 +28.9% 736 571 +28.9%
Exchange gain (196) (344) -43.0% (214) (356) -39.9%
Others 4,729 3,284 +44.0% 5,080 3,628 +40.0%
Operating expenses 78,471 62,499 +25.6% 76,296 60,565 +26.0%
Net finance charges 978 847 +15.5% 933 781 +19.5%
Total operating expenses 79,449 63,346 +25.4% 77,229 61,346 +25.9%
Group total operating expenses increased by 25.4% to
HK$79,449 million.
•The combined cost per ATK of Cathay Pacific and
Dragonair increased from HK$2.76 to HK$3.16. This
principally reflected higher average fuel prices.
•
Financial Review
36%
Fuel
1%
Net
finance
charges
1%
Commissions
6%
Others
17%
Staff
4%
Inflight service and
passenger expenses
14%
Landing, parking
and route
expenses
9%
Aircraft
maintenance
12%
Depreciation
and operating
leases
Total operating expenses
US$ per barrel
(jet fuel)
40
60
80
120
140
160
Barrels
in million
0
10
20
40
50
60
Fuel price and consumption
100 30
Into wing price – before hedging
Into wing price – after hedging
2006 2007 2008 2009 2010
Uplifted volume