Cathay Pacific 2009 Annual Report Download - page 71

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13. Associates (continued)
In respect of the year ended 31st December 2009, Air China has been included in the consolidated accounts based
on the most recently available accounts drawn up to 30th September 2009 excluding the Group’s share of Air
China’s fuel hedging losses of HK$1 billion for the fourth quarter of 2008 which were included in the Group’s 2008
annual results. The Group has taken advantage of the provision contained in HKAS 28 “Investments in Associates”
whereby it is permitted to include the attributable share of associates’ results based on accounts drawn up to a non-
coterminous period end where the difference must be no greater than three months.
Principal associates are listed on page 97.
14. Other long-term receivables and investments
Group Company
2009
HK$M
2008
(restated)
HK$M
2007
(restated)
HK$M
2009
HK$M
2008
(restated)
HK$M
2007
(restated)
HK$M
Investments at fair value
– listed in Hong Kong 175 77 186 –– –
– unlisted 1,373 992 1,256 1,328 916 1,142
Leasehold land rental prepayments 1,557 1,600 1,642 –– –
Loans and other receivables 311 418 435 305 408 425
Derivative financial assets – long-term portion 1,891 1,862 1,600 1,891 1,845 1,597
5,307 4,949 5,119 3,524 3,169 3,164
Leasehold land is held under medium-term leases in Hong Kong with a total unamortised value of HK$1,600 million
(2008: HK$1,643 million).
15. Long-term liabilities
2009 2008
Note
Current
HK$M
Non-current
HK$M
Current
HK$M
Non-current
HK$M
Group
Long-term loans (a) 4,140 15,159 1,964 16,504
Obligations under finance leases (b) 3,688 19,655 2,291 19,521
7,828 34,814 4,255 36,025
Company
Long-term loans (a) 3,278 11,564 951 12,020
Obligations under finance leases (b) 5,046 22,373 3,564 23,158
8,324 33,937 4,515 35,178
Notes to the Accounts STATEMENT OF FINANCIAL POSITION
Cathay Pacific Airways Limited Annual Report 2009 69