Air New Zealand 2009 Annual Report Download - page 49

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27. RELATED PARTIES (CONTINUED)
Associates
Transactions between Air New Zealand and its associates were as follows:
GROUP
2009
$M
GROUP
2008
$M
COMPANY
2009
$M
COMPANY
2008
$M
Operating revenue 3 1 - -
Operating expenditure (1) (1) - -
Reversal of provision for impairment in investment
(included within “Other expenses”) - 2 - -
During the year the Group received $4 million of dividends from the Christchurch Engine Centre (30 June 2008: Nil).
In the year ended 30 June 2008, the Company paid $7 million to Christchurch Engines Centre for the surrender of a lease at Christchurch airport.
Other related party disclosures
Other balances and transactions with related parties are not considered material to Air New Zealand and are entered into in the normal course of
business on standard commercial terms. Other than those amounts disclosed above there have been no other related party debts have been forgiven
during the year.
AIR NEW ZEALAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
AS AT 30 JUNE 2009
47