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Cathay Pacific Airways Limited Interim Report 2013 21
Financial Review
CATHAY PACIFIC AND DRAGONAIR OPERATING RESULTS ANALYSIS
Six months ended 30th June
2013
HK$M
2012
HK$M
(restated)
Airlines’ profit/(loss) before taxation 452 (1,053)
Tax (charge)/credit (171) 16
Airlines’ profit/(loss) after taxation 281 (1,037)
Share of (losses)/profits from subsidiaries and associates (257) 108
Profit/(loss) attributable to the owners of Cathay Pacific 24 (929)
The changes in the interim airlines’ profit/(loss) before taxation can be analysed as follows:
HK$M
2012 interim airlines’ loss before
taxation(restated) (1,053)
Passenger and cargo turnover (551) Passenger
– Increased due to a 1.2% points increase in load factor and a
4.4% increase in yield offset by a 4.8% decrease in capacity.
Cargo
– Decreased due to a 1.8% decrease in capacity, a 1.9% points
decrease in load factor and a 3.3% decrease in yield.
Fuel 1,713 – Fuel costs decreased due to a 3.7% decrease in the average
into-plane fuel price and a 5.0% decrease in consumption.
Landing, parking and route expenses 23 – Decreased mainly due to a decrease in operations in cargo
business.
Aircraft maintenance 839 – Decreased mainly due to retirement of older aircraft resulting
in reduced requirement for maintenance.
Depreciation, amortisation and
operatingleases
(188) – Increased mainly due to additional operating lease rental.
Staff (284) – Increased mainly due to increases in headcount and salaries.
Others (47) – Increased mainly due to an increase in net finance charges.
2013 interim airlines’ profit
before taxation 452