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The directors of Air New Zealand Limited are pleased to present to shareholders the Annual Report* and financial statements for Air New Zealand and
its subsidiaries and associates (the “Group”) for the year to 30 June 2008.
The directors are responsible for presenting financial statements in accordance with New Zealand law and generally accepted accounting practice, which
give a true and fair view of the financial position of the Group as at 30 June 2008 and the results of the Group’s operations and cash flows for the year
ended on that date.
The directors consider the financial statements of the Group have been prepared using accounting policies which have been consistently applied and
supported by reasonable judgements and estimates and that all relevant financial reporting and accounting standards have been followed.
The directors believe that proper accounting records have been kept which enable with reasonable accuracy, the determination of the financial position of
the Group and facilitate compliance of the financial statements with the Financial Reporting Act 1993.
The directors consider that they have taken adequate steps to safeguard the assets of the Group, and to prevent and detect fraud and other
irregularities. Internal control procedures are also considered to be sufficient to provide a reasonable assurance as to the integrity and reliability of the
financial statements.
This Annual Report is signed on behalf of the Board by:
John Palmer Roger France
CHAIRMAN DIRECTOR
26 August 2008
FINANCIAL STATEMENTS
Statement of Financial Performance 2 Statement of Accounting Policies 6
Statement of Movements in Equity 3 Notes to the Financial Statements 13
Statement of Financial Position 4 Audit Report 49
Statement of Cash Flows 5 Five Year Statistical Review 51
GENERAL INFORMATION
Corporate Governance at Air New Zealand 56 Employee Remuneration 67
Directors’ Profiles 59 Shareholder Statistics 68
Directors’ Interests 61 Operating Fleet Statistics 70
Directors’ Remuneration 63 General Information 71
Directors’ Interests in Air New Zealand Securities 64 Shareholder Directory 73
Subsidiary Companies 65
AIR NEW ZEALAND
DIRECTORS’ STATEMENT
* This document, in conjunction with the Air New Zealand Annual Shareholder Review 2008, constitutes the 2008 Annual Report to shareholders of Air New Zealand Limited.
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