Cathay Pacific 2010 Annual Report Download - page 31

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Cathay Pacific Airways Limited Annual Report 2010
29
Financial Review
HK$ million
0
10,000
20,000
40,000
50,000
60,000
Times
0.1
0.2
0.3
0.5
0.6
0.7
Net debt and equity
30,000 0.4
Funds attributable to owners of Cathay Pacific
Net borrowings
2006 2007 2008 2009 2010
Net debt/equity ratio
Borrowings before and after derivatives
HK$ million
0
5,000
10,000
20,000
25,000
30,000
15,000
EUR HKD JPY USD SGD Others
Before derivatives
After derivatives
Others include CAD, KRW, RMB and TWD.
Interest rate profile: borrowings
%
0
20
40
60
80
100
2006 2007 2008 2009 2010
Fixed
Floating
Borrowings and capital
Borrowings decreased by 7.1% to HK$39,629 million
from HK$42,642 million in 2009.
Borrowings are mainly denominated in US dollars,
Hong Kong dollars, Singapore dollars, Japanese yen
and Euros, and are fully repayable by 2023 with 59%
currently at fixed rates of interest after taking into
account derivative transactions.
Liquid funds, 73.7% of which are denominated in US
dollars, increased by 46.5% to HK$24,198 million.
Net borrowings decreased by 40.9% to HK$15,435
million.
Funds attributable to the owners of Cathay Pacific
increased by 28.5% to HK$54,274 million.
The net debt/equity ratio decreased from 0.62 times to
0.28 times.
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