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98 Qantas Annual Report 2008
Notes to the Financial Statements
for the year ended 30 June 2008
11. Receivables
Qantas Group Qantas
Current 2008
$M
2007
$M
2008
$M
2007
$M
Trade debtors
Controlled entities ––31.6 –
Associates and jointly controlled entities 6.6 11.7 6.4 0.1
Other parties 1,083.0 1,034.7 806.1 942.6
Less: impairment losses 4.4 6.5 2.8 5.4
1,085.2 1,039.9 841.3 937.3
Other loans
Controlled entities
interest-bearing–––37.5 32.6
non-interest-bearing–––1,561.0 60.4
Aircraft security deposits 23.2 109.8 12.9 100.1
Sundry debtors 326.5 227.1 252.6 83.6
1,434.9 1,376.8 2,705.3 1,214.0
Non-current
Other loans
Controlled entities
interest-bearing–––395.6 797.6
Associates and jointly controlled entities
interest-bearing–128.2 128.2 –128.2
Other parties
interest-bearing–14.0 14.0 ––
Aircraft security deposits 14.4 14.6 14.4 14.6
Sundry debtors 375.2 215.9 374.9 215.5
531.8 372.7 784.9 1,155.9
The ageing of trade debtors, net of provision for impairment losses, at 30 June was:
$M $M $M $M
Not past due 995.3 897.4 774.1 813.6
Past due 1–30 days 36.6 92.0 26.9 81.7
Past due 31–120 days 34.5 41.2 22.0 33.5
More than 121 days 18.8 9.3 18.3 8.5
Total 1,085.2 1,039.9 841.3 937.3
There are no signifi cant other receivables that have been recognised that would otherwise, without renegotiation, have been past due or impaired.
The movement in the provision for impairment losses in respect of trade debtors was as follows:
Balance as at 1 July 6.5 4.8 5.4 3.5
Impairment loss recognised 1.9 3.7 1.5 3.7
Bad debts written off (4.0) (2.0) (4.1) (1.8)
Balance as at 30 June 4.4 6.5 2.8 5.4
Current and non-current aircraft security deposits have been pledged as security to providers of aircraft fi nance.
Sundry debtors of Qantas and the Qantas Group also includes the present value of liquidated damages of $496.3 million (2007: $201.8 million)
resulting from the delay in delivery of aircraft.
For personal use only