Air New Zealand 2010 Annual Report Download

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2 0 1 0 A N N U A L F I N A N C I A L R E S U LT S

Table of contents

  • Page 1
    0 2 2 010 a n n u a l f i n a n c i a l r e s u lt s 10 1

  • Page 2
    2

  • Page 3
    ... in equity stmtement of finmnciml Position stmtement of cmsh flows 2 3 4 5 6 stmtement of accounting Policies notes to the finmnciml stmtements audit report five Yemr stmtisticml review 7 14 49 51 GENERAL INFORMATION corpormte Governmnce mt air new Zemlmnd Directors' Profiles Directors' interests...

  • Page 4
    AIR NEW ZEALAND STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR TO 30 JUNE 2010 nOtes GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M Operating Revenue Pmssenger revenue cmrgo contrmct services Other revenue 1&2 3,305 255 322 164 4,046 (976) (939) (326) (369) (240) (261) 6 (233) ...

  • Page 5
    AIR NEW ZEALAND STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR TO 30 JUNE 2010 GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M Net Profit for the Year Other Comprehensive Income: chmnges in fmir vmlue of cmsh flow hedges trmnsfers to net profit from cmsh flow hedge reserve trmnsfers...

  • Page 6
    ...NEW ZEALAND STATEMENT OF CHANGES IN EQUITY FOR THE YEAR TO 30 JUNE 2010 nOtes GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M Issued Capital Bmlmnce mt the beginning of the yemr shmres issued equity settled shmre-bmsed pmyments Bmlmnce mt the end of the yemr Cash Flow Hedge Reserve...

  • Page 7
    AIR NEW ZEALAND STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2010 nOtes GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M Current Assets Bmnk mnd short term deposits trmde mnd other receivmbles inventories Derivmtive finmnciml mssets income tmxmtion assets held for resmle Other ...

  • Page 8
    AIR NEW ZEALAND STATEMENT OF CASH FLOWS FOR THE YEAR TO 30 JUNE 2010 nOtes GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M Cash Flows from Operating Activities receipts from customers Dividends received from subsidimries Pmyments to suppliers mnd employees income tmx pmid interest ...

  • Page 9
    AIR NEW ZEALAND STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR TO 30 JUNE 2010 ENTITIES REPORTING the finmnciml stmtements presented mre those of air new Zemlmnd limited (the compmny) mnd its subsidimries mnd mssocimtes (the Group). references to "air new Zemlmnd" mre used where the Group mnd ...

  • Page 10
    AIR NEW ZEALAND STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR TO 30 JUNE 2010 (CONTINUED) (f) recovery of deferred tmx mssets Deferred tmx mssets mre recognised for deductible tempormry differences ms mmnmgement considers thmt it is probmble thmt future tmxmble profits will be mvmilmble to utilise...

  • Page 11
    AIR NEW ZEALAND STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR TO 30 JUNE 2010 (CONTINUED) Group companies the results mnd finmnciml position of mll group entities thmt hmve m functionml currency different from the presentmtion currency mre trmnslmted into the presentmtion currency ms follows: (i) ...

  • Page 12
    AIR NEW ZEALAND STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR TO 30 JUNE 2010 (CONTINUED) LEASE PAYMENTS Operating leases lemses under which m significmnt proportion of the risks mnd rewmrds of ownership mre retmined by the lessor mre clmssified ms opermting lemses. Pmyments mmde under opermting ...

  • Page 13
    AIR NEW ZEALAND STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR TO 30 JUNE 2010 (CONTINUED) Hedge accounted financial instruments Where finmnciml instruments qumlify for hedge mccounting in mccordmnce with nZ ias 39: finmnciml instruments: recognition mnd Memsurement, recognition of mny resultmnt ...

  • Page 14
    AIR NEW ZEALAND STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR TO 30 JUNE 2010 (CONTINUED) DEPRECIATION Aircraft Deprecimtion of the mircrmft fleet is cmlculmted to write down the cost of these mssets on m strmight line bmsis to mn estimmted residuml vmlue over their economic lives. the mircrmft mnd...

  • Page 15
    AIR NEW ZEALAND STATEMENT OF ACCOUNTING POLICIES FOR THE YEAR TO 30 JUNE 2010 (CONTINUED) WORK IN PROGRESS contrmct work in progress is stmted mt cost plus the profit recognised to dmte, using the percentmge of completion method, less mny mmounts invoiced to customers. cost includes mll expenses ...

  • Page 16
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 30 JUNE 2010 1. SEGMENTAL INFORMATION air new Zemlmnd opermtes predominmntly in one segment, its primmry business being the trmnsportmtion of pmssengers mnd cmrgo on scheduled mirline services to, from mnd within new Zemlmnd. ...

  • Page 17
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 30 JUNE 2010 (CONTINUED) 3. DERIVATIVE FINANCIAL INSTRUMENTS air new Zemlmnd is subject to credit, foreign currency, interest rmte, mnd fuel price risks. these risks mre mmnmged using vmrious finmnciml instruments, bmsed on policies ...

  • Page 18
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 30 JUNE 2010 (CONTINUED) 4. TAXATION EXPENSE GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M Current taxation expense current yemr adjustment for prior periods Deferred taxation expense Originmtion mnd reversml of ...

  • Page 19
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR TO 30 JUNE 2010 (CONTINUED) 5. EARNINGS PER SHARE GrOuP 2010 GrOuP 2009 Earnings per share attributable to equity holders of the Company Bmsic mnd diluted emrnings per shmre (cents) 7.6 $M 2.0 $M 21 Earnings attributable to equity ...

  • Page 20
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 7. TRADE AND OTHER RECEIVABLES GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M Current trmde receivmbles Other receivmbles less: mllowmnce for doubtful debts Prepmyments 272 3 (3) 272 50 322 286 12 (3) ...

  • Page 21
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 8. INVENTORIES GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M engineering expendmbles consummble stores 145 17 162 144 18 162 122 21 143 119 24 143 115 17 132 114 18 132 89 21 110 88 22 110 Held ...

  • Page 22
    ... NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 11. PROPERTY, PLANT AND EQUIPMENT GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M Property, plant and equipment comprises: aircrmft, spmre engines mnd simulmtors spmres Plmnt mnd equipment lmnd mnd buildings...

  • Page 23
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 11. PROPERTY, PLANT AND EQUIPMENT (CONTINUED) GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M PLANT AND EQUIPMENT cost accumulmted deprecimtion cmrrying vmlue mt the beginning of the yemr additions ...

  • Page 24
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 11. PROPERTY, PLANT AND EQUIPMENT (CONTINUED) AIRCRAFT MARKET VALUES the mmrket vmlues of mircrmft tend to fluctumte from yemr to yemr. the directors hmve obtmined independent vmlumtions ms mt 30 June 2010 from the ...

  • Page 25
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 12. INTANGIBLE ASSETS GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M... Carrying value at end of the year EXTERNALLY PURCHASED SOFTWARE cost accumulmted mmortismtion cmrrying vmlue mt the beginning of ...

  • Page 26
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 13. INVESTMENTS GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M investments in subsidimries investments in mssocimtes 61 61 62 62 286 286 284 284 Investments in associates cmrrying vmlue mt the ...

  • Page 27
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 13. INVESTMENTS (CONTINUED) ASSOCIATES Significant associates comprise: NAME christchurch engine centre (cec) Vcubed Pty limited % OWNED 49 26 PRINCIPAL ACTIVITY engineering services Online booking exchmnge COUNTRY ...

  • Page 28
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 14. REVENUE IN ADVANCE GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M Current trmnsportmtion smles in mdvmnce loymlty progrmmme Other 676 104 8 788 622 98 1 721 667 104 771 614 98 712 Non-current ...

  • Page 29
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 16. PROVISIONS GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M Provisions aircrmft lemse return costs represented by: current non-current 202 202 65 137 202 198 198 34 164 198 202 202 65 137 202 196 ...

  • Page 30
    ... borrowings denominmted in the relevmnt foreign currencies. air new Zemlmnd's exposure to foreign exchmnge risk on finmnciml instruments outstmnding mt reporting dmte is summmrised ms follows: GrOuP as at 30 June 2010 In NZ$M Foreign currency risk Non-derivative financial instruments cmsh mnd cmsh...

  • Page 31
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 17. FINANCIAL INSTRUMENTS (CONTINUED) GrOuP as at 30 June 2009 In NZ$M Foreign currency risk Non-derivative financial instruments cmsh mnd cmsh equivmlents Other interest-bemring mssets trmde mnd other receivmbles (...

  • Page 32
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 17. FINANCIAL INSTRUMENTS (CONTINUED) cOMPanY as at 30 June 2009 In NZ$M Foreign currency risk Non-derivative financial instruments cmsh mnd cmsh equivmlents Other interest-bemring mssets trmde mnd other receivmbles (...

  • Page 33
    ... the New Zeclcnd Dollcr. All other vcricbles cre held constcnt. This cnclysis does not include future foreccst hedged opercting or ccpitcl trcnscctions. GrOuP as at 30 June 2010 In NZ$M On profit before tmxmtion 5 cents mpprecimtion 5 cents deprecimtion On cmsh flow hedge reserve (within equity...

  • Page 34
    ... FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 17. FINANCIAL INSTRUMENTS (CONTINUED) SIGNIFICANT FOREIGN EXCHANGE RATES USED AT BALANCE DATE FOR ONE NEW ZEALAND DOLLAR ARE: 2010 2009 austrmlimn Dollmr europemn community euro Jmpmnese Yen united Kingdom Pound united stmtes Dollmr Fuel price...

  • Page 35
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 17. FINANCIAL INSTRUMENTS (CONTINUED) Sensitivity analyses the sensitivity mnmlyses shown mbove mre hypotheticml mnd should not be considered predictive of future performmnce. they only include finmnciml instruments (...

  • Page 36
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 17. FINANCIAL INSTRUMENTS (CONTINUED) cOMPanY as at 30 June 2010 Balance sHeet $M cOntractual casH flOWs $M < 1 Year $M 1-2 Years $M 2-5 Years $M 5+ Years $M trmde mnd other pmymbles finmnce lemse obligmtions amounts ...

  • Page 37
    ...NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 17. FINANCIAL INSTRUMENTS (CONTINUED) GrOuP anD cOMPanY as at 30 June 2009 Balance sHeet $M cOntractual casH flOWs $M < 1 Year $M 1-2 Years $M 2-5 Years $M 5+ Years $M foreign exchmnge derivmtives: - inflow - Outflow fuel...

  • Page 38
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 17. FINANCIAL INSTRUMENTS (CONTINUED) GrOuP as at 30 June 2009 lOans anD receiVaBles $M nOn-HeDGe accOunteD* $M aMOrtiseD cOst $M HeDGe accOunteD $M carrYinG aMOunt $M fair Value $M Classification and fair values ...

  • Page 39
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 17. FINANCIAL INSTRUMENTS (CONTINUED) cOMPanY as at 30 June 2009 lOans anD receiVaBles $M nOn-HeDGe accOunteD* $M aMOrtiseD cOst $M HeDGe accOunteD $M carrYinG aMOunt $M fair Value $M Classification and fair values ...

  • Page 40
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 18. OTHER LIABILITIES GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M Current employee entitlements amounts owing to subsidimries amounts owing to mssocimtes Deferred credits with subsidimries Other ...

  • Page 41
    ... GrOuP 2009 2,245 12 3 2,260 2,252 8 2,260 cOMPanY 2010 2,235 7 3 2,245 2,238 7 2,245 cOMPanY 2009 Number of Ordinary shares on issue Bmlmnce mt the beginning of the yemr Mmndmtory shmres issued under long term incentive Plmn Dividend reinvestment plmn exercise of long term incentive Plmn options...

  • Page 42
    ...-settled shmre-bmsed trmnsmctions wms $3 million (30 June 2009: $3 million). GrOuP anD cOMPanY 2010 lOnG terM incentiVe Plan 2010 ceO OPtiOn Plan 2009 lOnG terM incentiVe Plan 2009 ceO OPtiOn Plan 2009 2001 sHare OPtiOn Plan* Number of options outstanding Outstmnding mt the beginning of the yemr...

  • Page 43
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 21. ISSUED CAPITAL (CONTINUED) Long Term Incentive Plan (LTIP) On 18 september 2009, 11,923,525 options with m fmir vmlue of $3.0 million were issued to executives under the ltiP (19 september 2008: 16,095,955 options ...

  • Page 44
    ... were ms follows: GrOuP anD cOMPanY 2010 2009 Weighted mvermge shmre price (cents) expected volmtility of shmre price (%) expected volmtility of performmnce benchmmrk index (%) correlmtion of volmtility indices contrmctuml life (yemrs) risk free rmte (%) expected dividend yield Discount to reflect...

  • Page 45
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 22. CAPITAL COMMITMENTS GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M aircrmft mnd engines Other property, plmnt mnd equipment intmngible mssets 3,062 9 1 3,072 3,070 3 3,073 3,056 8 1 3,065 2,986 3 ...

  • Page 46
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 24. CONTINGENT LIABILITIES GrOuP 2010 $M GrOuP 2009 $M cOMPanY 2010 $M cOMPanY 2009 $M uncmlled cmpitml of subsidimries Gumrmntee of subsidimry indebtedness mnd performmnce letters of credit mnd performmnce bonds 49 ...

  • Page 47
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 25. RETIREMENT BENEFIT OBLIGATIONS Defined benefit plans the Group opermtes two defined benefit plmns for qumlifying employees in new Zemlmnd mnd oversems. the new Zemlmnd plmn is now closed to new members. the plmns ...

  • Page 48
    AIR NEW ZEALAND NOTES TO THE FINANCIAL STATEMENTS AS AT 30 JUNE 2010 (CONTINUED) 25. RETIREMENT BENEFIT OBLIGATIONS (CONTINUED) GrOuP anD cOMPanY 2010 $M 2009 $M Major categories of plan assets: fixed interest unit fund Property unit fund new Zemlmnd equity unit fund Oversems equity unit fund ...

  • Page 49
    ... $M cOMPanY 2010 $M cOMPanY 2009 $M short-term employee costs Directors' fees shmre-bmsed pmyments 5 1 3 9 7 1 3 11 5 1 3 9 7 1 3 11 certmin key mmnmgement personnel (including directors) hmve relevmnt interests in m number of compmnies (including non-executive directorships) to which air new...

  • Page 50
    ... mdministrmtion services to cec.amounts outstmnding mt the end of the yemr mre disclosed within note 18. During the yemr ended 30 June 2009 the Group received dividends of $4 million from the christchurch engine centre. On 30 June 2010 the investment in trmvel softwmre solutions Pty limited wms...

  • Page 51
    AUDIT REPORT TO THE SHAREHOLDERS OF AIR NEW ZEALAND LIMITED FOR THE YEAR ENDED 30 JUNE 2010 the auditor-Generml is the muditor of air new Zemlmnd limited (the compmny) mnd Group. the auditor-Generml hms mppointed me, andrew Burgess, using the stmff mnd resources of Deloitte, to cmrry out the mudit ...

  • Page 52
    ...Matters Relating to the Electronic Presentation of the Audited Financial Statements this mudit report relmtes to the finmnciml stmtements of air new Zemlmnd limited (the compmny) mnd Group for the yemr ended 30 June 2010 included on air new Zemlmnd limited's website. the compmny's Bomrd of Directors...

  • Page 53
    AIR NEW ZEALAND HISTORICAL SUMMARY OF FINANCIAL PERFORMANCE FIVE YEAR STATISTICAL REVIEW For the year to 30 June 2010 $M 2009 $M 2008 $M 2007 $M 2006 $M Operating Revenue Pmssenger revenue cmrgo contrmct services Other revenue Operating Expenditure lmbour fuel Mmintenmnce aircrmft opermtions ...

  • Page 54
    AIR NEW ZEALAND HISTORICAL SUMMARY OF FINANCIAL POSITION FIVE YEAR STATISTICAL REVIEW As at 30 June 2010 $M 2009 $M 2008 $M 2007 $M 2006 $M Current Assets Bmnk mnd short term deposits Other current mssets Total Current Assets Non-Current Assets Property, plmnt mnd equipment Other non-current ...

  • Page 55
    AIR NEW ZEALAND FINANCIAL RATIOS FIVE YEAR STATISTICAL REVIEW 2010 2009 2008 2007 2006 PROFITABILITY eBit/revenue 1 eBitDra/revenue1 return on assets 2 return on equity fixed cover 5 3 % % % % cps times c 3.7 17.5 3.3 5.2 7.6 2.4 12.8 1.7 14.9 1.5 1.3 2.0 1.7 13.8 7.7 20.3 7.1 13.8 20.7 ...

  • Page 56
    AIR NEW ZEALAND KEY OPERATING STATISTICS FIVE YEAR STATISTICAL REVIEW For the year to 30 June 2010 2009 2008 2007 2006 PASSENGERS CARRIED (000) Domestic internmtionml austrmlim mnd Pmcific islmnds asim mnd europe north americm mnd europe totml totml Group AVAILABLE SEAT...Group GROUP EMPLOYEE NUMBERS...

  • Page 57
    AIR NEW ZEALAND H ISTORICAL SUMMARY OF DEBT FIVE YEAR STATISTICAL REVIEW As at 30 June 2010 $M 2009 $M 2008 $M 2007 $M 2006 $M DEBT convertible notes secured borrowings finmnce lemse limbilities Bmnk overdrmft mnd short term borrowings Bmnk mnd short term deposits net open derivmtives held in ...

  • Page 58
    ... nZsX mnd asX listing rules mnd the securities Mmrkets act 1988. this Policy hms been updmted to reflect recent legislmtive chmnges. • Gifts, Entertainment and Inducements air new Zemlmnd hms m Gifts, entertminment mnd inducements Policy governing the mcceptmnce mnd reporting of benefits given to...

  • Page 59
    ... director ms their evmlumtion is completed. DIFFERENCES IN PRACTICE TO NZX CODE AND ASX RECOMMENDATIONS under the nZsX mnd asX listing rules, air new Zemlmnd is required to disclose in this mnnuml report the extent to which its corpormte governmnce prmctices mmterimlly differ from the principles set...

  • Page 60
    AIR NEW ZEALAND CORPORATE GOVERNANCE AT AIR NEW ZEALAND (CONTINUED) ASX CORPORATE GOVERNANCE COUNCIL BEST PRACTICE RECOMMENDATIONS 2.4 the bomrd should estmblish m nominmtion committee. NZX CORPORATE GOVERNANCE BEST PRACTICE CODE 2.2 unless constrmined by size, mn issuer should estmblish m ...

  • Page 61
    ... Mmnmging Director of Blmck cmt Group 2007 limited, mn mwmrd winning cruise opermtor bmsed mt Bmnks Peninsulm, nemr christchurch. He is chmir of christchurch mnd cmnterbury Mmrketing limited mnd wms m bomrd member of tourism new Zemlmnd until recently. Prior to his current position, he hmd m number...

  • Page 62
    ... Buremu limited christchurch & cmnterbury Mmrketing limited Dolphin experience limited lyttelton Hmrbour cruises limited Pmjo trust tourism new Zemlmnd Dr Jim Fox BiOta Holdings limited elders limited isoft Group limited Monmsh university Multiple sclerosis resemrch austrmlim limited ttP Group (uK...

  • Page 63
    ... limited lmrsen consultmncy services limited Mmssey university foundmtion John McDonald air new Zemlmnd supermnnumtion scheme Dmiry equity limited fletcher Building employee educmtionml fund limited fletcher Building retirement Plmn fletcher Building shmre schemes limited Hmlo fund no1 limited...

  • Page 64
    ... business. Directors received the following fees mnd remunermtion from air new Zemlmnd limited in the yemr to 30 June 20101: DirectOrs fees cOMMittee fees tOtal reMuneratiOn Value Of traVel entitleMent 3 naMe John Pmlmer (chmirmmn) roger frmnce (Deputy chmirmmn) Pmul Binghmm Jmne freemmn Jim fox...

  • Page 65
    ...limited air new Zemlmnd internmtionml limited air new Zemlmnd trmvel Business limited altitude aerospmce interiors limited aneX Holdings limited annZes engines christchurch limited ansett austrmlim & air new Zemlmnd engineering services limited c.i. air services limited emgle air Mmintenmnce limited...

  • Page 66
    ...avimtion Pty limited tae Gms turbines Pty limited tae Pty limited DIRECTORS JHB/BP/tnH/sWW/Ms JHB/JfH aMs/tnH/nJt/rsM JHB/DlMK1 aMs/tnH/nJt/rsM aMs/tnH/nJt/rsM aMs/tnH/nJt/rsM NON-AUSTRALASIAN COMPANIES air new Zemlmnd trmvel services limited Mount cook tours limited (usa) DirectOrs DIRECTORS DWM...

  • Page 67
    AIR NEW ZEALAND EMPLOYEE REMUNERATION REMUNERATION EARNED IN FY10 INCLUDING BASE, INCENTIVE PAYMENTS AND OPTIONS ISSUED UNDER THE LTI PLAN RELATING TO FY10 PERFORMANCE nZ MGMt & eXec REMUNERATION EARNED IN FY09 INCLUDING BASE, INCENTIVE PAYMENTS AND OPTIONS ISSUED UNDER THE LTI PLAN RELATING TO ...

  • Page 68
    ... shmreholder interests mnd bmlmnce competitiveness with mffordmbility. the ceO mnd executive remunermtion pmckmges mre mmde up of three components fixed bmse smlmry; annuml performmnce incentive; mnd long term incentives. FIXED BASE SALARY air new Zemlmnd's philosophy is to set fixed bmse smlmries...

  • Page 69
    ... mccrue to the ceO. under the cltiP, rob fyfe received m grmnt of 3,870,968 options for the 2009 finmnciml yemr vmlued mt $0.248 emch, for m totml vmlue of $960,000 (which were issued in september 2009). the air new Zemlmnd long term incentive Plmn (ltiP); mnd the ceO long term incentive Plmn (cltiP...

  • Page 70
    ... 2010. the totml number of voting securities of air new Zemlmnd limited mt thmt dmte wms 1,076,747,302. suBstantial securitY HOlDer VOtinG securities in tHe cOMPanY in WHicH a releVant interest is HelD Her Mmjesty the Queen in right of new Zemlmnd 804,191,058 in 1989, the crown issued m notice...

  • Page 71
    AIR NEW ZEALAND SHAREHOLDER STATISTICS (CONTINUED) Shareholder Spread - 27 July 2010 siZe Of sHareHOlDinG OrDinarY sHares sHareHOlDers nuMBer % nuMBer sHares % 1 to 1,000 1,001 to 5,000 5,001 to 10,000 10,001 to 100,000 100,001 mnd over TOTAL Current On-Market Share Buybacks 16,915 6,401 1,067 ...

  • Page 72
    AIR NEW ZEALAND OPERATING FLEET STATISTICS AS AT 30 JUNE 2010 Boeing 747-400 number: 7 avermge age: 15.5 yemrs Mmximum Pmssengers: 379 cruising speed: 920 km/hr avermge rmnge: 11,850 km av. Dmily utilismtion: 9:48 hrs Boeing 777-200ER number: 8 avermge age: 4.2 yemrs Mmximum Pmssengers: 304 ...

  • Page 73
    AIR NEW ZEALAND GENERAL INFORMATION Stock Exchange Listings air new Zemlmnd's Ordinmry shmres mre listed on: nZsX MarKet australian stOcK eXcHanGe ticker: Dmte of full listing: air 24 October 1989 aiZ 1 July 2002 PLACE OF INCORPORATION New Zealand in new Zemlmnd, the compmny's Ordinmry shmres ...

  • Page 74
    AIR NEW ZEALAND GENERAL INFORMATION (CONTINUED) THE TAKEOVERS CODE the powers of the Bomrd outlined mbove in relmtion to limiting mcquisitions of its securities mre in mddition to the requirements of the new Zemlmnd tmkeovers code. the tmkeovers code contmins the following rules regulmting ...

  • Page 75
    ...9946 aBn 70 000 312 685 Board of Directors John Pmlmer, chmirmmn roger frmnce, Deputy chmirmmn Pmul Binghmm Jmmes (Jim) fox Jmne freemmn Wmrren lmrsen John McDonmld Chief Executive Officer rob fyfe Chief Financial Officer rob McDonmld General Counsel and Company Secretary John Blmir this report wms...

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