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Cathay Pacific reports record 2010 earnings; announces order for 27 aircraft


Cathay Pacific’s full year earnings surged 199% year-on-year in 2010 to HKD14.05 billion (USD1.8 billion). It was the carrier’s best-ever annual profit and exceeded its profit forecast of at least HKD12.5 billion (USD1.6 billion) for 2010. Cathay, following the financial release, also announced plans to acquire 27 Airbus and Boeing aircraft in agreements worth around USD6.55 billion at list prices. Further orders are expected. [2833 words]

Unlock the following content in this report:


  • Margins soar to 15%
  • Air China profits and Hactl and HAECO sale contribute to result
  • Growth in pax and cargo volumes
  • Increasing importance of codeshares to increase network scope
  • Freight grows to record levels
  • Air China Cargo to commence operations shortly
  • Strong financial position supports fleet expansion
  • Rising fuel costs a concern
  • Record profits and multi-billion dollar aircraft agreements a strong vote of confidence for Cathay

Graphs and data:

  • Cathay Pacific total revenue growth and cost growth: 2005 to 2010
  • Cathay Pacific operating profit margin and net profit margin: 2000 to 2010
  • Cathay passenger yield growth and cargo yield growth: 2005 to 2010
  • Cathay Pacific passenger load factor and cargo load factor: 2000 to 2010
  • Cathay Pacific passenger numbers growth and cargo volume growth: 2005 to 2010
  • Cathay Pacific passenger yield growth by region: 2010
  • Cathay Pacific passenger capacity growth by region: 2010
  • Cathay Pacific fleet profile as at 31-Dec-2010 (prior to Mar-2011 orders)
  • Cathay Pacific fuel hedging profile
  • Cathay Pacific financial highlights for the 12 months ended 31-Dec-2010
  • Cathay Pacific and Dragonair operating statistics
  • Capacity, load factor and yield – Cathay Pacific and Dragonair
  • Cathay Pacific Airways commentary by region
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