My Account Menu

CAPA Login


Register to trial CAPA Membership!

Cathay Pacific results better than forecast

10-Mar-2011

Cathay Pacific shares jumped 4.5% yesterday, with the carrier reporting better-than-expected results. Revenue increased 34% year-on-year to USD11.5 billion on a 9% increase in passenger numbers and a 20% increase in yield. Net profit tripled to USD1.8 billion.

EVA Air shares rose 5.8% in trading. The company reported Feb-2011 passenger traffic dropped 5.9%, but passenger yields rose 8.7%. Cargo volume and yields both decreased moderately.

Cathay Pacific reported the following financial highlights for the 12 months ended 31-Dec-2010:

  • Revenue*: USD11,497 million, +33.7% year-on-year;
  • Operating costs: USD10,077 million, +25.6%;
    • Fuel: USD3631 million, +63.0%;
    • Labour: USD1779 million, +9.8%;
  • Operating profit: USD1809 million, +145.7%;
  • Net profit: USD1804 million, +199.3%;
  • Passenger numbers: 26.8 million, +9.1%;
  • Passenger load factor: 83.4%, +2.9 ppts;
  • Passenger yield: USD 7.86 cents, +19.8%;
  • Cargo volume: 1.8 million tonnes, +18.1%;
  • Cargo load factor: 75.7%, +4.9 ppts;
  • Cargo yield: USD 29.92 cents, +25.3%;

* Based on the conversion rate USD1 = HKD7.78693

EVA Air reported the following traffic highlights in Feb-2011:

  • Passenger numbers: 482,768, -5.9% year-on-year;
  • Passenger load factor: 74.6%, -4.7 ppts;
  • Passenger yield*: USD8.45 cents, +8.7%;
  • Cargo volume: 56,733 tonnes, -1.6%;
  • Cargo yield: USD24.12 cents, -2.4%.

* Based on the conversion rate USD1 = TWD29.352

Selected APAD daily share price movements (% change): 09-Mar-2011


Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.