Qantas 2007 Annual Report Download - page 132

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130 Qantas |Annual Report 2007
Controlled entities
Details of interests in controlled entities are set out in Note 25. Transactions between Qantas and controlled entities are conducted on normal business
terms and conditions. In addition, the Qantas Group has pooled funding arrangements with its major domestic banker and as such reciprocal borrowings
occur regularly between Qantas and its controlled entities.
Transactions between Qantas and related parties in the wholly-owned group include:
Qantas provides a range of administrative, financial and treasury services to controlled entities;
Qantas leased aircraft to and provided maintenance services to Australian Airlines Limited (Australian Airlines);
Qantas provides ground handling services to Australian Airlines, Jetstar Airways Pty Limited (Jetstar) and QantasLink;
Australian Airlines, Jetstar and QantasLink provide freight capacity to Qantas;
Qantas Flight Catering Holdings Limited and controlled entities and Snap Fresh Pty Limited provide airline catering and related services to Qantas,
Australian Airlines and QantasLink;
Qantas codeshares on certain Jetstar services for inbound international passengers and Qantas Frequent Flyers for which it pays capacity hire costs;
Jetstar acts as an agent for QH Tours Ltd;
QH Tours Ltd and controlled entities and Qantas act as an agent for each other’s products;
Southern Cross Insurances Pte Limited provides insurance services to Qantas and its controlled entities;
AAL Aviation Limited and its controlled entities assist in the hiring of aircraft capacity;
Qantas Cabin Crew (UK) Limited provides cabin crew to Qantas;
Jetconnect Limited provides flights and cabin crew to Qantas;
Qantas leases aircraft from controlled entities;
Qantas leases property to and from controlled entities;
Qantas leases aircraft to Jetstar;
Qantas leases aircraft to Express Freighters Australia Pty Limited;
Qantas has an engine tooling arrangement with Jet Turbine Services Pty Limited; and
Qantas receives engine maintenance services from Jet Turbine Services Pty Limited.
Transactions and balances with partly and wholly-owned controlled entities are included in the Financial Statements as follows:
Qantas
Notes
2007
$M
2006
$M
Sales and other income 2461.0 233.1
Finance costs 383.0 80.3
Current receivables 793.0 143.9
Non-current receivables 7797.6 827.7
Current payables 14 308.3 138.5
Current interest-bearing liabilities 15 441.9 430.1
Non-current interest-bearing liabilities 15 1,419.4 1,638.5
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34. Non-Director Related Parties
Notes to the Financial Statements
for the year ended 30 June 2007