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Cathay Pacific Airways Limited
30
We submit our report and the audited financial statements
for the year ended 31st December 2015 which are on pages
54 to 105.
Principal activities
Cathay Pacific Airways Limited (the “Company” or “Cathay
Pacific”) is managed and controlled in Hong Kong. As well as
operating scheduled airline services, the Company and its
subsidiaries (collectively referred to as the “Group”) are
engaged in other related areas including airline catering,
aircraft handling, aircraft engineering and cargo terminal
operations. The airline operations are principally to and
from Hong Kong, which is where most of the Group’s other
activities are also carried out.
Details of principal subsidiaries, their main areas of
operation and particulars of their issued capital, and details
of principal associates are listed on pages 98 and 99.
Consolidated financial statements
The consolidated financial statements incorporate the
financial statements of the Company and its subsidiaries
together with the Group’s interests in joint ventures and
associates. The financial performance of the Group for the
year ended 31st December 2015 and the financial position
of the Group and the Company at that date are set out in the
financial statements on pages 54 to 105. Details of the joint
ventures and associates are provided under note 10 to the
financial statements.
Dividends
The Directors have declared a second interim dividend of
HK$0.27 per share for the year ended 31st December 2015.
Together with the first interim dividend of HK$0.26 per
share paid on 5th October 2015, this makes a total dividend
for the year of HK$0.53 per share. This represents a total
distribution for the year of HK$2,085 million. The second
interim dividend will be paid on 5th May 2016 to
shareholders registered at the close of business on the
record date, being Friday, 8th April 2016. Shares of the
Company will be traded ex-dividend as from Wednesday,
6th April 2016.
Closure of register of members
The register of members will be closed on Friday, 8th April
2016, during which day no transfer of shares will be
effected. In order to qualify for entitlement to the second
interim dividend, all transfer forms accompanied by the
relevant share certificates must be lodged with the
Company’s share registrars, Computershare Hong Kong
Investor Services Limited, 17th Floor, Hopewell Centre,
183 Queen’s Road East, Hong Kong, for registration not later
than 4:30 p.m. on Thursday, 7th April 2016.
To facilitate the processing of proxy voting for the annual
general meeting to be held on 11th May 2016, the register of
members will be closed from 6th May 2016 to 11th May
2016, both days inclusive, during which period no transfer of
shares will be effected. In order to be entitled to attend and
vote at the annual general meeting, all transfer forms
accompanied by the relevant share certificates must be
lodged with the Company’s share registrars,
Computershare Hong Kong Investor Services Limited, 17th
Floor, Hopewell Centre, 183 Queen’s Road East, Hong Kong,
for registration not later than 4:30 p.m. on Thursday,
5th May 2016.
Business review and performance
A fair review of the Group’s business, a description of the
principal risks and uncertainties facing the Group,
particulars of important events affecting the Group that
have occurred since the end of the financial year and an
indication of the likely future development of the Group’s
business (including, in each case to the extent necessary
for an understanding of the development, performance or
position of the Group’s business, key performance
indicators) are provided in the sections of this annual report
headed Chairman’s Letter (on pages 3 and 4), 2015 in
Review (on pages 5 to 14), Review of Operations (on pages
16 to 20) and Financial Review (on pages 22 to 27) and in the
notes to the financial statements. To the extent necessary
for an understanding of the development, performance or
position of the Group’s business, a discussion of the
Group’s environmental policies and performance and an
account of the Group’s key relationships with its employees,
customers and suppliers and others that have a significant
impact on the Group and on which the Group’s success
Directors’ Report