Qantas 2005 Annual Report Download - page 115

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113
Qantas Annual Report 2005
~Notes to the Financial Statements~
for the year ended 30 June 2005
38. Non-Director related parties continued
ASSOCIATES AND JOINT VENTURES
Details of interests in associates and joint ventures are provided in Note 30. Transactions with associates and joint ventures are conducted
on normal terms and conditions.
Transactions between Qantas and associates and joint ventures include:
x Qantas provides ground handling services and performs maintenance and contract work for Air Pacific;
x Qantas provides ramp handling services to Australian air Express;
x Qantas leases all domestic freight capacity and sub-leases certain property to Australian air Express;
x Qantas codeshares on certain Air Pacific services for which it pays capacity hire costs;
x Australian air Express and the Star Track Express Group provide certain domestic freight and document delivery services for Qantas;
x Qantas receives interest from the Star Track Express Group on an investment loan;
x Qantas provides treasury services to Air Pacific and Jetstar Asia;
x Qantas has sub-leased aircraft to Jetstar Asia;
x Qantas has seconded employees and provided various support services to Jetstar Asia; and
x Qantas receives engine maintenance services from Jet Turbine Services.
Transactions and balances with associates and joint ventures are included in the Financial Statements as follows:
Qantas Group Qantas
2005
$M
2004
$M
2005
$M
2004
$M
Sales and operating revenue (refer Note 2) 92.7 90.1 88.9 87.6
Dividend revenue (refer Note 2) ––12.6 2.9
Interest revenue (refer Note 2) 10.3 5.1 10.3 5.1
Expenditure 1.6 2.1 1.6 2.1
Current receivables (refer Note 8) 13.6 11. 8 13.6 11.7
Non-current receivables (refer Note 8) 128.2 128.2 128.2 128.2
Current payables (refer Note 14) 0.2 25.6 0.2 25.6
Current interest-bearing liabilities (refer Note 15) 13.6 14.2 13.6 14.2
OTHER RELATED PARTIES
BRITISH AIRWAYS PLC
In March 1993, British Airways Plc (British Airways) acquired 25 per cent of the shares in Qantas from the Australian Government.
On 9 September 2004, British Airways disposed of its then entire 18.25 per cent shareholding in Qantas and accordingly, British Airways
is no longer a related party of Qantas.
Qantas and British Airways continued to operate the Joint Services Agreement. They also continued their membership of the oneworld
alliance during the financial year.
Transactions and balances with British Airways are included in the Financial Statements as follows:
$M $M $M $M
Sales and operating revenue (refer Note 2) 2.8 25.3 2.8 16.8
Expenditure* 33.1 97.2 33.1 91.8
Current receivables (refer Note 8) –58.2 –58.2
Current payables (refer Note 14) –99.5 –99.5
* Includes settlement receipts/payments under the JSA.