Cathay Pacific 2011 Annual Report Download - page 14

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12
2011 in Review
Fleet profile*
Aircraft
type
Number as at
31st December 2011
Firm orders Expiry of operating leases
Options
Purchase
rights
Leased
Owned Finance Operating Total ‘12 ‘13
’14 and
beyond Total ‘12 ‘13 ‘14 ‘15 ‘16
’17 and
beyond
Aircraft operated by Cathay Pacific:
A330-300 8 15 10 33 6 4 9 19 2 1 7
A340-300 6 5 2(a) 13
A350-900 32(b) 32 10(c)
747-400 16 5 21 2(d) 2 1
747-400F 3 3 6
747-400BCF 4(e) 482 1 1
747-400ERF 6 6
747-8F 2 2 44 2 6
777-200 5 5
777-200F 8 8
777-300 3 9 12
777-300ER 5 8 11 24 5 8 13 26 11 20(f)
Total 52 48 32 132 15 14 62 91 2 2 1 4 2 19 10 20
Aircraft operated by Dragonair:
A320-200 5 6 11 2(g) 22 2 2
A321-200 2 4 62 2
A330-300 4 1 10 15 33112
Total 11 1 20 32 2233156 2
Aircraft operated by Air Hong Kong:
A300-600F 2 6 8
747-400BCF 3 31 2
Total 2 6 3 11 1 2
Grand total 65 55 55 175 17(h) 14 62 93 5 5 2 9 9 23 10 20
* Includes parked aircraft. This profile does not reflect aircraft movements after 31st December 2011.
(a) The operating leases of these two aircraft expired in July and December 2011 and they were returned to the lessor in January and February 2012.
(b) Including two aircraft on 12-year operating leases.
(c) Options, to be exercised no later than 2016, for A350 family aircraft.
(d) One aircraft was purchased by the Company upon its lease expiry in January 2012.
(e) Two aircraft are expected to be sold to Air China Cargo in the second quarter of 2012.
(f) Purchase rights for aircraft to be delivered by 2017.
(g) Two aircraft on 10-year operating leases delivered in February 2012.
(h) Two A320-200s on operating leases for which a letter of intent was signed in December 2011 (with the leases having been signed in January 2012) will
be delivered in November and December 2012. With these two additional aircraft, the total aircraft to be delivered in 2012 will be 19.
Review of other subsidiaries and associates
The results recorded by our other subsidiaries were
satisfactory overall. The share of profits from associates
decreased by HK$870 million to HK$1,717 million. This was
mainly a result of a poor performance from the Air China
Cargo joint venture and year end provisions made by Air
China. Below is a review of the performance and operations
of our other subsidiaries and associates.
AHK Air Hong Kong Limited (“Air Hong Kong”)
Air Hong Kong is the only all-cargo airline in Hong Kong.
It is 60% owned by Cathay Pacific. Its core business is
to operate express cargo services for DHL Express. It
operates a fleet of eight owned Airbus A300-600F
freighters and three Boeing 747-400BCF freighters dry-
leased from Cathay Pacific.
•