Cathay Pacific 2013 Annual Report Download - page 22

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Cathay Pacific Airways Limited Interim Report 201320
TURNOVER
Group Cathay Pacific and Dragonair
Six months ended
30th June
Six months ended
30th June
2013
HK$M
2012
HK$M
2013
HK$M
2012
HK$M
Passenger services 34,978 34,713 34,978 34,713
Cargo services 11,278 11,897 9,625 10,441
Catering, recoveries and other services 2,328 2,251 2,038 1,992
Turnover 48,584 48,861 46,641 47,146
Financial Review
• Group passenger turnover increased 0.8%
against a 4.8% decrease in capacity. The
increased turnover principally reflected an
improvement on revenue management.
• Group cargo turnover decreased by 5.2%.
Combined Cathay Pacific and Dragonair cargo
turnover decreased by 7.8% against a 1.8%
decrease in capacity.
• Group turnover from catering, recoveries and
other services increased by 3.4%.
OPERATING EXPENSES
Group Cathay Pacific and Dragonair
Six months ended 30th June Six months ended 30th June
2013
HK$M
2012
HK$M
(restated)
Change
2013
HK$M
2012
HK$M
(restated)
Change
Staff 8,432 8,046 +4.8% 7,590 7,306 +3.9%
Inflight service and passenger expenses 1,986 1,979 +0.4% 1,986 1,979 +0.4%
Landing, parking and route expenses 6,668 6,714 -0.7% 6,563 6,586 -0.3%
Fuel, net of hedging gains 18,674 20,407 -8.5% 18,245 19,958 -8.6%
Aircraft maintenance 3,861 4,643 -16.8% 3,703 4,542 -18.5%
Aircraft depreciation and operating leases 4,565 4,415 +3.4% 4,448 4,346 +2.3%
Other depreciation, amortisation and
operating leases 889 669 +32.9% 632 546 +15.8%
Commissions 386 388 -0.5% 386 388 -0.5%
Others 2,088 1,911 +9.3% 2,118 2,189 -3.2%
Operating expenses 47,549 49,172 -3.3% 45,671 47,840 -4.5%
Net finance charges 542 381 +42.3% 518 359 +44.3%
Total operating expenses 48,091 49,553 -3.0% 46,189 48,199 -4.2%
• The Group’s total operating expenses decreased
by 3.0% to HK$48,091 million.
• The combined cost per ATK (with fuel) of Cathay
Pacific and Dragonair decreased from HK$3.72
to HK$3.69.