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Cathay Pacific Airways Limited
62 Notes to the Financial Statements Statement of Financial Position
10. Fixed assets (continued)
Aircraft and
related equipment
Other
equipment Buildings
Owned
HK$M
Leased
HK$M
Owned
HK$M
Leased
HK$M
Owned
HK$M
Total
HK$M
Company
Cost
At 1st January 2014 51,790 68,341 1,520 478 1,084 123,213
Additions 3,088 8,837 176 – 117 12,218
Disposals (8,944) – (76) – – (9,020)
Reclassification to assets held for sale (3,888) – – – – (3,888)
Transfers 5,253 (5,253) – – – –
At 31st December 2014 47,299 71,925 1,620 478 1,201 122,523
At 1st January 2013 51,083 59,315 1,533 478 828 113,237
Additions 2,987 13,554 71 – 256 16,868
Disposals (5,774) – (84) – – (5,858)
Reclassification to assets held for sale (1,034) – – – – (1,034)
Transfers 4,528 (4,528) – – – –
At 31st December 2013 51,790 68,341 1,520 478 1,084 123,213
Accumulated depreciation and impairment
At 1st January 2014 32,963 14,719 935 399 288 49,304
Charge for the year 3,358 3,136 152 13 92 6,751
Impairment 428 171 – – – 599
Disposals (7,564) – (76) – – (7,640)
Reclassification to assets held for sale (3,699) – – – – (3,699)
Transfers 3,534 (3,534) – – – –
At 31st December 2014 29,020 14,492 1,011 412 380 45,315
At 1st January 2013 33,057 14,461 883 383 218 49,002
Charge for the year 3,112 2,781 134 16 70 6,113
Disposals (5,016) – (82) – – (5,098)
Impairment 210 – – – – 210
Reclassification to assets held for sale (923) – – – – (923)
Transfers 2,523 (2,523) – – – –
At 31st December 2013 32,963 14,719 935 399 288 49,304
Net book value
At 31st December 2014 18,279 57,433 609 66 821 77,208
At 31st December 2013 18,827 53,622 585 79 796 73,909
(a) Finance leased assets
Certain aircraft are subject to leases with purchase options to be exercised at the end of the respective leases. The
remaining lease terms range from 1 to 11 years. Some of the rent payments are on a floating basis which are
generally linked to market rates of interest. All leases permit subleasing rights subject to appropriate consent from
lessors. Early repayment penalties would be payable on some of the leases should they be terminated prior to their
specified expiry dates.