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Cathay Pacific Airways Ltd.

  • 10.36 HKD
  • +0.10
  • +0.97%
  • Hong Kong
    Aug 23, 2019
  • Ticker
    HKG(293)
  • Prev. close
    10.26
  • Market cap (HKD)
    40,361.20M
  • Market cap (USD)
    5,146.68M
  • Shares
    3,933.84M

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

Cathay Pacific Airways Ltd. engages in airline operations. It operates through the Airline Business and Non-Airline Business segments. The Airline Business segment comprises of passenger and cargo operations. The Non-Airline Business segment includes airline catering, ground handling, and aircraft ramp handling services. The company was founded by Roy C. Farrell and Sydney H. de Kantzow on September 24, 1946 and is headquartered in Hong Kong.

Financial Highlights

Dec 2018 HKDUSD
Revenue111,060M14,170.25M
Gross Profit11,865M1,513.86M
Operating income4,583M584.74M
Income before tax3,243M413.77M
Net income2,345M299.20M
EBITDA14,385M1,835.39M
Diluted EPS0.590.07
Dividends Per Share0.300.03
Total Assets190,294M24,305.21M
Total liabilities126,355M16,138.63M
Total equity63,936M8,166.19M
Operating cash flow14,992M1,912.84M
Currency in HKDCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 105,991M 102,342M 92,751M 97,284M 111,060M
Gross Profit 11,285M 19,789M 15,659M 13,405M 11,865M
Operating income 5,744M 14,983M 8,070M 4,235M 4,583M
Income before tax 3,277M 5,500M -1,826M -580M 3,243M
Net income 3,150M 6,000M -575M -1,259M 2,345M
EBITDA 14,083M 23,842M 16,620M 13,589M 14,385M
Diluted EPS 0.80 1.52 -0.14 -0.32 0.59
Dividends Per Share 0.36 0.53 0.05 0.05 0.30
Total Assets 171,974M 172,827M 177,421M 188,378M 190,294M
Total liabilities 120,121M 124,760M 121,895M 127,106M 126,355M
Total equity 51,722M 47,927M 55,365M 61,101M 63,936M
Operating cash flow 10,506M 16,275M 6,530M 4,694M 14,992M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 13,668.00M 13,201.03M 11,948.66M 12,483.80M 14,170.25M
Gross Profit 1,455.24M 2,552.57M 2,017.27M 1,720.17M 1,513.86M
Operating income 740.71M 1,932.64M 1,039.61M 543.44M 584.74M
Income before tax 422.58M 709.44M -235.23M -74.42M 413.77M
Net income 406.20M 773.93M -74.07M -161.55M 299.20M
EBITDA 1,816.06M 3,075.36M 2,141.07M 1,743.78M 1,835.39M
Diluted EPS 0.10 0.19 -0.01 -0.04 0.07
Dividends Per Share 0.04 0.06 0.00 0.00 0.03
Total Assets 22,176.31M 22,299.82M 22,883.73M 24,097.57M 24,305.21M
Total liabilities 15,489.79M 16,097.75M 15,721.99M 16,259.57M 16,138.63M
Total equity 6,669.63M 6,184.00M 7,140.96M 7,816.12M 8,166.19M
Operating cash flow 1,354.79M 2,099.30M 841.22M 602.34M 1,912.84M

Valuation Measures

Dec 2018
PER18.68
ROA1.23%
ROE3.75%
Operating margin4.12%
Profit margin2.11%

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. (45.0%)
  • Air China Ltd. (29.9%)
  • Government of Qatar (9.9%)
  • The Vanguard Group, Inc. (0.3%)
  • Dimensional Fund Advisors LP (0.3%)
  • Norges Bank Investment Management (0.3%)
  • PineBridge Investments Asia Ltd. (0.1%)
  • ClearBridge Investments LLC (0.0%)
  • JPMorgan Asset Management (Asia Pacific) Ltd. (0.0%)
  • Charles Schwab 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

  • Troon Ltd. (Isle of Man)
  • Cathay Pacific Fund Management 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
  • China Eastern Airlines Corporation Limited Class H
  • China Southern Airlines Company Limited Class H
  • El Al Israel Airlines Ltd
  • PT Garuda Indonesia (Persero) Tbk Class B
  • PAL Holdings, Inc.
  • Knafaim Holdings Ltd.
  • Cebu Air Inc.
  • China Airlines Ltd.
  • Air Canada
  • JG Summit Holdings Inc.
  • Asia Aviation Public Co., Ltd.
  • Nippon Yusen Kabushiki Kaisha
Last Updated on 23 Aug, 2019

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