Cathay Pacific Airways today announced a reduced profit attributable to shareholders of HK$3,298 million in its 2005 Annual Results compared with a profit of HK$4,417 million the previous year as high fuel prices continued to weigh heavy on the airline.
Group turnover increased 19.1% to a record HK$50,909 million. Fuel costs for the year increased 67.2% to HK$15,588 million. Passenger and cargo fuel surcharges only partially offset this additional cost. The airline’s unit cost excluding fuel decreased by 1.9% with continued efforts to increase productivity and reduce controllable overheads.
Passenger revenue increased 14.6% to a record HK$30,274 million. The airline carried 15.4 million passengers in 2005, up from 13.7 million the previous year. Passenger yield improved 1.1% to HK46.3 cents with strong demand from First and Business Class passengers. Capacity, measured in terms of available seat kilometres, or ASKs, increased 11.8% as the airline continued to expand its fleet and network.
Cathay Pacific carried a record 1,118,047 tonnes of freight and set a cargo revenue record of HK$11,585 million. New freighter services commenced to Shanghai, Dallas and Atlanta. However, both cargo yield and load factor decreased to HK$1.75 and 67.0% respectively with increased competition and a slowdown in the growth of exports from Southern China.
The airline launched a third daily service to Los Angeles, a fourth daily service to London, and increased frequencies to Amsterdam, Beijing, Ho Chi Minh City, Johannesburg, Nagoya, Perth, Seoul and Singapore. It also commenced a new three-times-weekly service to Xiamen.
CAPA
Group turnover increased 19.1% to a record HK$50,909 million. Fuel costs for the year increased 67.2% to HK$15,588 million. Passenger and cargo fuel surcharges only partially offset this additional cost. The airline’s unit cost excluding fuel decreased by 1.9% with continued efforts to increase productivity and reduce controllable overheads.
Passenger revenue increased 14.6% to a record HK$30,274 million. The airline carried 15.4 million passengers in 2005, up from 13.7 million the previous year. Passenger yield improved 1.1% to HK46.3 cents with strong demand from First and Business Class passengers. Capacity, measured in terms of available seat kilometres, or ASKs, increased 11.8% as the airline continued to expand its fleet and network.
Cathay Pacific carried a record 1,118,047 tonnes of freight and set a cargo revenue record of HK$11,585 million. New freighter services commenced to Shanghai, Dallas and Atlanta. However, both cargo yield and load factor decreased to HK$1.75 and 67.0% respectively with increased competition and a slowdown in the growth of exports from Southern China.
The airline launched a third daily service to Los Angeles, a fourth daily service to London, and increased frequencies to Amsterdam, Beijing, Ho Chi Minh City, Johannesburg, Nagoya, Perth, Seoul and Singapore. It also commenced a new three-times-weekly service to Xiamen.
CAPA
