Air New Zealand 2011 Annual Report Download - page 39

Download and view the complete annual report

Please find page 39 of the 2011 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 80

  • 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
  • 77
  • 78
  • 79
  • 80

17. FINANCIAL RISK MANAGEMENT (CONTINUED)
GROUP
AS AT 30 JUNE 2010
STATEMENT
OF FINANCIAL
POSITION
$M
CONTRACTUAL
CASH FLOWS
$M
< 1 YEAR
$M
1-2 YEARS
$M
2-5 YEARS
$M
5+ YEARS
$M
Foreign exchange derivatives:
- Inflow 2,699 2,303 396 - -
- Outflow (2,720) (2,320) (400) - -
2 (21) (17) (4) - -
Fuel derivatives 7 1 1 - - -
9 (20) (16) (4) - -
COMPANY
AS AT 30 JUNE 2011
STATEMENT
OF FINANCIAL
POSITION
$M
CONTRACTUAL
CASH FLOWS
$M
< 1 YEAR
$M
1-2 YEARS
$M
2-5 YEARS
$M
5+ YEARS
$M
Foreign exchange derivatives:
- Inflow 2,438 2,237 201 - -
- Outflow (2,499) (2,289) (210) - -
(167) (61) (52) (9) - -
Fuel derivatives 6 10 10 - - -
(161) (51) (42) (9) - -
COMPANY
AS AT 30 JUNE 2010
STATEMENT
OF FINANCIAL
POSITION
$M
CONTRACTUAL
CASH FLOWS
$M
< 1 YEAR
$M
1-2 YEARS
$M
2-5 YEARS
$M
5+ YEARS
$M
Foreign exchange derivatives:
- Inflow 2,737 2,317 420 - -
- Outflow (2,758) (2,334) (424) - -
4 (21) (17) (4) - -
Fuel derivatives 7 1 1 - - -
11 (20) (16) (4) - -
Transition to NZ IFRS 9 (2009) - Financial Instruments
Subsequent to the interim six month period ended 31 December 2010 and the acquisition of an equity investment in Virgin Blue
Holdings Limited, Air New Zealand has adopted NZ IFRS 9 (2009) - Financial Instruments in advance of its effective date, for the
annual financial reporting period ending 30 June 2011. Air New Zealand has applied the transition relief available for early adoption and,
accordingly, prior period comparatives have not been restated.
NZ IFRS 9 (2009) specifies how an entity should classify and measure its financial assets. It requires all financial assets to be classified
in their entirety on the basis of the entity’s business model for managing the financial assets and the contractual characteristics of the
financial assets. Financial assets are measured at either amortised cost or fair value. The specific measurement bases for the Group’s
financial assets are set out in the Statement of Accounting Policies.
The following summarises the classification of financial assets under NZ IFRS 9 (2009) and the classification that would have been
applied under NZ IAS 39 Financial Instruments: Recognition and Measurement. The early adoption results in a change of terminology
only, and no financial adjustments.
AIR NEW ZEALAND ANNUAL FINANCIAL RESULTS 2011