Cathay Pacific Airways Ltd.
In the news
- Record loss for Cathay Pacific exacerbated by fuel hedges Aug 12, 2020
- WWII anniversary, SoftBank results, Jokowi's state of the union Aug 9, 2020
- Cathay Pacific shores up cash position with jet delivery delay Jul 22, 2020
- Cathay Pacific warns of $1.3bn net loss due to COVID Jul 17, 2020
- Cathay Pacific shareholders approve government-led bailout Jul 13, 2020 See more articles on Cathay Pacific Airways Ltd.
Company Background
Cathay Pacific Airways is Hong Kong's flag carrier, offering passenger and cargo services to around 200 cities in Asia, Europe, North America, Africa and Australia. It has a workforce of around 23,000.
The company was established in 1946 by Roy Farrell, an American, and Sydney de Kantzow, an Australian. Early on, it offered flights to Shanghai, Bangkok, Manila and Singapore.
Swire Pacific, a conglomerate engaged in the property development, beverage, marine services and trading businesses, has owned 45% of Cathay Pacific since 1948. Through the years, Swire has overseen the airline's expansion. In 2006, Cathay Pacific acquired Dragonair, a Hong Kong-based carrier that mainly flies within the Asia-Pacific region. Around the same time, it signed a strategic partnership with national flag carrier Air China.
Air China owns 29.99% of Cathay Pacific.
John Slosar, who also leads Swire, became chairman of Cathay Pacific in 2014. Amid the rise of low-cost carriers, he plans to boost the airline's competitiveness by capitalizing on a new runway at Hong Kong International Airport. The third runway, scheduled for completion in 2023, should allow the airport to handle 102 flights per hour, up from 68, and serve an additional 30 million passengers annually.
Business Summary
Financial Highlights
| Dec 2019 | HKD | USD |
| Revenue | 106,973M | 13,652.87M |
| Gross Profit | 9,202M | 1,174.44M |
| Operating income | 3,219M | 410.83M |
| Income before tax | 502M | 64.06M |
| Net income | 1,691M | 215.82M |
| EBITDA | 18,232M | 2,326.93M |
| Diluted EPS | 0.37 | 0.04 |
| Dividends Per Share | 0.15 | 0.02 |
| Total Assets | 214,516M | 27,530.99M |
| Total liabilities | 151,740M | 19,474.31M |
| Total equity | 62,773M | 8,056.28M |
| Operating cash flow | 15,736M | 2,008.37M |
| Currency in HKD | Currency in USD |
Historical Data
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | |
| Revenue | 102,342M | 92,751M | 97,284M | 111,060M | 106,973M |
| Gross Profit | 19,789M | 15,659M | 13,405M | 11,865M | 9,202M |
| Operating income | 14,983M | 8,070M | 4,235M | 4,583M | 3,219M |
| Income before tax | 5,500M | -1,826M | -580M | 3,243M | 502M |
| Net income | 6,000M | -575M | -1,259M | 2,345M | 1,691M |
| EBITDA | 23,842M | 16,620M | 13,589M | 14,385M | 18,232M |
| Diluted EPS | 1.32 | -0.12 | -0.27 | 0.51 | 0.37 |
| Dividends Per Share | 0.46 | 0.04 | 0.04 | 0.26 | 0.15 |
| Total Assets | 172,827M | 177,421M | 188,378M | 190,294M | 214,516M |
| Total liabilities | 124,760M | 121,895M | 127,106M | 126,355M | 151,740M |
| Total equity | 47,927M | 55,365M | 61,101M | 63,936M | 62,773M |
| Operating cash flow | 16,275M | 6,530M | 4,694M | 14,992M | 15,736M |
| Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | Dec 2019 | |
| Revenue | 13,201.03M | 11,948.66M | 12,483.80M | 14,170.25M | 13,652.87M |
| Gross Profit | 2,552.57M | 2,017.27M | 1,720.17M | 1,513.86M | 1,174.44M |
| Operating income | 1,932.64M | 1,039.61M | 543.44M | 584.74M | 410.83M |
| Income before tax | 709.44M | -235.23M | -74.42M | 413.77M | 64.06M |
| Net income | 773.93M | -74.07M | -161.55M | 299.20M | 215.82M |
| EBITDA | 3,075.36M | 2,141.07M | 1,743.78M | 1,835.39M | 2,326.93M |
| Diluted EPS | 0.17 | -0.01 | -0.03 | 0.06 | 0.04 |
| Dividends Per Share | 0.05 | 0.00 | 0.00 | 0.03 | 0.02 |
| Total Assets | 22,299.82M | 22,883.73M | 24,097.57M | 24,305.21M | 27,530.99M |
| Total liabilities | 16,097.75M | 15,721.99M | 16,259.57M | 16,138.63M | 19,474.31M |
| Total equity | 6,184.00M | 7,140.96M | 7,816.12M | 8,166.19M | 8,056.28M |
| Operating cash flow | 2,099.30M | 841.22M | 602.34M | 1,912.84M | 2,008.37M |
Valuation Measures
| Dec 2019 | |
| PER | 26.80 |
| ROA | 0.83% |
| ROE | 2.66% |
| Operating margin | 3.00% |
| Profit margin | 1.58% |
Key executives
- Chief Executive Officer & Executive Director: Kin Wing Tang
- COO, Director & Chief Service Delivery Officer: Gregory Thomas Forrest Hughes
- Chief Financial Officer & Executive Director: Martin James Murray
- Director-Service Delivery: Ying Wah Yau
- Commercial Director: Lavinia Lau
Shareholders
- Swire Pacific Ltd. (31.5%)
- Air China Ltd. (29.9%)
- Government of Qatar (7.0%)
- Capital Research & Management Co. (Global Investors) (0.8%)
- The Vanguard Group, Inc. (0.4%)
- Dimensional Fund Advisors LP (0.2%)
- Norges Bank Investment Management (0.2%)
- PineBridge Investments Asia Ltd. (0.0%)
- Charles Schwab Investment Management, Inc. (0.0%)
- JPMorgan Investment Management, Inc. (0.0%)
Contact Details
- Website:http://cathaypacific.com
- Address: Cathay Pacific City, 8 Scenic Road, Hong Kong International Airport, Hong Kong, Hong Kong
- Phone: +852.2747.3333
Related Companies
- New Zealand Basing Ltd.
- Cathay Pacific Airways Ltd. (Spain)
- Cathay Pacific MTN Financing (HK) Ltd.
- Troon Ltd. (Isle of Man)
- Cathay Pacific Fund Management Ltd.
- Cathay Pacific China Cargo Holdings Co. Ltd.
- Global Logistics System (HK) Co. Ltd.
- Connaught Network Services Pvt Ltd.
- Cathay Pacific Services Ltd.
- Cathay Pacific Leasing Ltd.
- Cathay Pacific Airways Ltd. (Australia)
- Cathay Pacific MTN Financing Ltd.
- Asia Miles Ltd.
- Hong Kong Express Airways Ltd.
- CPA Finance Cayman
- Cathay Pacific Finance Ltd.
- Cathay Pacific Aircraft Services Ltd.
- Hong Kong Dragon Airlines Ltd.
- AHK Air Hong Kong Ltd.
Competitors
- Air China Limited Class H
- Qantas Airways Limited
- China Airlines Ltd.
- China Eastern Airlines Corporation Limited Class H
- El Al Israel Airlines Ltd
- China Southern Airlines Company Limited Class H
- PT Garuda Indonesia (Persero) Tbk Class B
- Cebu Air Inc.
- PAL Holdings, Inc.
- Knafaim Holdings Ltd.
- Air Canada
- International Consolidated Airlines Group SA
- JG Summit Holdings Inc.
- Asia Aviation Public Co., Ltd.
- Nippon Yusen Kabushiki Kaisha
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Last Updated on 28 Sep, 2020
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