Air New Zealand 2010 Annual Report Download - page 26

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13. INVESTMENTS
GROUP
2010
$M
GROUP
2009
$M
COMPANY
2010
$M
COMPANY
2009
$M
Investments in subsidiaries - - 286 284
Investments in associates 61 62 - -
61 62 286 284
Investments in associates
Carrying value at the beginning of the year (including goodwill of Nil (30 June 2009: Nil) 62 49 - -
Capital repayment (2) - - -
Contributions made during the year - 4 - -
Loans provided during the year - 4 - -
Share of surplus 6 3 - -
Foreign currency translation (loss)/gain (3) 6 - -
Impairment (recognised within "Other expenses") (2) - - -
Distributions received - (4) - -
Carrying value at the end of the year (including goodwill of Nil) 61 62 - -
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
Altitude Aerospace Interiors Limited Aviation design engineering New Zealand
Eagle Airways Limited Aviation New Zealand
Mount Cook Airline Limited Aviation New Zealand
Safe Air Limited Engineering services New Zealand
TAE Gas Turbines Pty Limited Engineering services Australia
TAE Aviation Pty Limited Aviation engineering Australia
Zeal 320 Limited Aviation New Zealand
On 22 June 2010 Tasman Aviation Enterprises (Richmond) Pty Limited was deregistered.
All subsidiary entities above have a balance date of 30 June and are 100 percent owned. Subsidiaries are accounted for using the cost method.
AIR NEW ZEALAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
AS AT 30 JUNE 2010
24