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Overview of 2010

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Overview of 2010

Understanding our business

The Group reported a record attributable profit of HK$14 billion in 2010, a result which reflects a continued and significant recovery in its core business following the extremely challenging conditions experienced for much of 2009 and a significantly increased contribution from Air China. It also includes gains from the disposal of shares in Hong Kong Air Cargo Terminals Limited (HACTL) and Hong Kong Aircraft Engineering Company Limited (HAECO), and on the deemed disposal of shares in Air China, partly offset by the fine imposed by the European Commission arising out of its cargo investigation.

Selected Awards in Cathay Pacific for 2010
Cathay Pacific
First in Asia's Most Admired Companies

Wall Street Journal Asia's annual poll
(for the 5th consecutive year)

Best New Lounge Award

Travel + Leisure Magazine, US edition

Cargo Airline of the Year

Centre for Asia Pacific Aviation Awards

Carrier of the Year

Canadian International Freight Forwarder Association

Favourite Business Airline

Condé Nast Traveller Magazine Readers Travel Awards

Best Frequent Flyer Programme - Asia Miles

Business Traveller Asia-Pacific Travel Awards

Total Caring Award

Hong Kong Council of Social Services

Dragonair
World's Best Regional Airline

Skytrax World Airline Awards

Best Regional Airline

TTG Asia Travel Awards

Best Airline Economy Class

Business Traveller China reader survey

Economic Value Added

For the year ended 31st December 2010

2010
HK$M
2009
HK$M
% Change
Direct economic value generated
Turnover 89,524 66,978 33.7%
Finance income 677 588 15.1%
Surplus on sales of investments 2,165 1,254 72.6%
Gain on deemed disposal of an associate 868 - N/A
Share of profits of associated companies 2,587 261 891.2%
95,821 69,081 38.7%
Economic value distributed
Purchases of goods and services 58,294 44,219 31.8%
Employee wages and benefits 13,850 12,618 9.8%
Payments to providers of capital 6,207 1,998 210.7%
Taxation charge 1,462 283 416.6%
Community investments including charitable donation
- Direct payment
11 10 10%
- In the form of discounts on airline travel 5 4 25%
79,829 59,132 35.0%
Economic value retained
- Depreciation 6,316 5,652 11.7%
- Profit after dividends 9,681 4,301 125.1%
Retained for re-investment and future growth 15,997 9,953 60.7%
Note:
The above table summarises the distribution of the economic value generated from the Group which includes Cathay Pacific and all its subsidiaries including Dragonair and Air Hong Kong. Share of profits of associated companies include our share of profits of Air China and HAECO (up to the date of sale). Please refer to our 2010 Annual Report page 96-97 for details of our principal subsidiaries and associates.

Cathay Pacific Group Fleet profile as of 31 December 2010

Cathay Pacific Fleet profile
Aircraft Type
BOEING
777-200 777-300 777-300ER 747-400 747-400F 747-400BCF 747-400ERF
AIRBUS
330-300 340-300
TOTAL
Passenger
5 12 18 22
32 15
104
Freighter
6 12 6
24
Average age (years)
13.57 9.62 2.00 18.68 11.22 16.98 2.02
9.55 13.50
10.74
Total
5 12 18 22 6 12 6
32 15
128
Dragonair Fleet profile Air Hong Kong Fleet profile
Aircraft Type
AIRBUS
A320-200 A321-200 A330-300
TOTAL
AIRBUS
A300-600F
Passenger
11 6 14
31
Freighter 8
Average age (years)
8.10 10.05 9.13
10.45
Average age (years) 5.72
Total
11 6 14
31
Total 8