Cathay Pacific Airways Cash Flow Statement

Financials in millions HKD. Fiscal year is January - December.

Millions HKD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun '25 Jun 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Net Income	9,926	9,888	9,789	3,381	-5,527	-21,648
Depreciation & Amortization	11,239	11,466	11,734	11,563	12,229	14,421
Other Amortization	593	593	590	626	557	-
Loss (Gain) From Sale of Assets	-40	-40	34	152	-46	-34
Asset Writedown & Restructuring Costs	-46	-46	-208	-	1,010	4,012
Loss (Gain) From Sale of Investments	-599	-599	-1,918	-88	-156	135
Other Operating Activities	-564	-1,293	-837	-3,746	927	93
Change in Accounts Receivable	-974	-974	-6	705	-159	3,751
Change in Inventory	-419	-419	170	132	340	93
Change in Accounts Payable	1,803	1,803	5,515	382	-1,376	-7,555
Change in Unearned Revenue	3,087	3,087	1,656	5,416	281	-7,819
Change in Other Net Operating Assets	75	75	-111	-687	755	260
Operating Cash Flow	24,081	23,541	26,408	17,836	8,835	-14,291
Operating Cash Flow Growth	33.78%	-10.86%	48.06%	101.88%	-	-
Capital Expenditures	-10,394	-9,207	-6,801	-3,729	-2,276	-5,418
Sale of Property, Plant & Equipment	59	190	222	50	112	153
Investment in Securities	3,867	2,848	3,873	-183	2,464	-7,150
Other Investing Activities	201	87	38	1,102	193	657
Investing Cash Flow	-6,267	-6,082	-2,668	-2,760	493	-11,758
Long-Term Debt Issued	-	13,284	4,927	6,115	13,906	22,304
Long-Term Debt Repaid	-	-18,841	-16,386	-22,351	-20,838	-30,134
Net Debt Issued (Repaid)	-9,765	-5,557	-11,459	-16,236	-6,932	-7,830
Issuance of Common Stock	-	-	-	-	-	11,716
Preferred Dividends Paid	-227	-471	-1,969	-	-	-
Common Dividends Paid	-4,443	-4,056	-	-	-	-
Dividends Paid	-4,670	-4,527	-1,969	-	-	-
Other Financing Activities	-	-	-	-	-	-77
Financing Cash Flow	-24,185	-19,834	-23,178	-16,236	-6,932	23,309
Foreign Exchange Rate Adjustments	71	-75	-8	-73	11	25
Net Cash Flow	-6,300	-2,450	554	-1,233	2,407	-2,715
Free Cash Flow	13,687	14,334	19,607	14,107	6,559	-19,709
Free Cash Flow Growth	33.06%	-26.89%	38.99%	115.08%	-	-
Free Cash Flow Margin	12.55%	13.73%	20.75%	27.64%	14.39%	-41.99%
Free Cash Flow Per Share	1.95	1.94	2.65	2.19	1.02	-3.82
Cash Interest Paid	3,309	3,246	3,364	2,432	1,946	2,223
Cash Income Tax Paid	1,755	2,010	3,113	1,247	991	923
Levered Free Cash Flow	13,907	12,556	19,635	18,872	6,093	-8,794
Unlevered Free Cash Flow	16,189	14,992	22,111	20,839	7,799	-6,911
Change in Working Capital	3,572	3,572	7,224	5,948	-159	-11,270

Source: S&P Global Market Intelligence. Standard template. Financial Sources.