Air New Zealand 2008 Annual Report Download - page 24

Download and view the complete annual report

Please find page 24 of the 2008 Air New Zealand annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 76

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76

12. INVESTMENTS (CONTINUED)
SUBSIDIARIES
Significant subsidiaries comprise:
NAME PRINCIPAL ACTIVITY COUNTRY OF INCORPORATION
Air Nelson Limited Aviation New Zealand
Air New Zealand Aircraft Holdings Limited Aircraft leasing and financing New Zealand
Air New Zealand Holidays Limited Hotel reservations and events marketing New Zealand
Eagle Airways Limited Aviation New Zealand
Zeal 320 Limited Aviation New Zealand
Mount Cook Airline Limited Aviation New Zealand
Safe Air Limited Engineering services New Zealand
Tasman Aviation Enterprises Engineering services Australia
(Queensland) Pty Limited
Tasman Aviation Enterprises Engineering services Australia
(Richmond) Pty Limited
All subsidiary entities above have a balance date of 30 June and are 100 percent owned. Subsidiaries are accounted for using the cost method.
ASSOCIATES
Significant associates comprise:
NAME % OWNED PRINCIPAL ACTIVITY COUNTRY OF INCORPORATION
Christchurch Engine Centre (CEC) 49 Engineering services New Zealand
Travel Software Solutions Pty Limited 25 Airline reservation systems Australia
All associates have a balance date of 30 June, with the exception of the CEC which has a balance date of 31 December.
GROUP
2008
$M
GROUP
2007
$M
Carrying amount
Christchurch Engine Centre 48 46
Travel Software Solutions Pty Limited 1 1
49 47
Summarised financial information of associates - 100%:
Assets 152 146
Liabilities 39 37
Revenue 187 208
Profit after taxation 3 1
Results of associates
Share of profit before taxation - 1
Taxation expense - -
Share of profit after taxation of associates - 1
AIR NEW ZEALAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
AS AT 30 JUNE 2008
22