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40
QANTAS ANNUAL REPORT 2014
DIRECTORS’ REPORT
FOR THE YEAR ENDED 30 JUNE 2014
The Directors of Qantas Airways Limited (Qantas) present
their Report together with the Financial Statements of the
consolidated entity, being Qantas and its controlled entities
(Qantas Group), for the year ended 30 June 2014 and the
Independent Audit Report thereon.
DIRECTORS
The Directors of Qantas at any time during or since the end
of theyear are:
Leigh Clifford, AO
Alan Joyce
Maxine Brenner (appointed 29 August 2013)
Peter Cosgrove, AK, MC (resigned 28 January 2014)
Patricia Cross (retired 18 October 2013)
Richard Goodmanson
Jacqueline Hey (appointed 29 August 2013)
Garry Hounsell
William Meaney
Paul Rayner
Barbara Ward, AM
Details of current Directors, their qualifications, experience
and any special responsibilities, including Qantas Committee
Memberships, are set out on pages 24 to 26.
PRINCIPAL ACTIVITIES
The principal activities of the Qantas Group during the course
of the year were the operation of international and domestic air
transportation services, the provision of freight services and
the operation of a Frequent Flyer loyalty program. There were no
significant changes in the nature of the activities of the Qantas
Group during the year.
DIVIDENDS
No final dividend will be paid in relation to the year ended
30June 2014 (2013: nil final dividend). No interim dividend was
paid during the year.
SIGNIFICANT CHANGES IN STATE OF AFFAIRS
In the opinion of the Directors, there were no significant changes
in the state of affairs of the Qantas Group that occurred during
the year under review.
Any matter or circumstance that has arisen since the end of the
year that may affect the Qantas Group’s state of affairs in future
financial years has been included in the Review of Operations.
REVIEW OF OPERATIONS
A review of, and information about, the Qantas Group’s
operations, including the results of those operations during
the year together with information about the Group’s financial
position appear on pages 27 to 37.
The Qantas Group’s strategies, prospects for future financial
years and material business risks have been included in the
Review of Operations to the extent that they are not likely to result
in unreasonable prejudice to the Qantas Group. In the opinion of
the Directors, detail that could be unreasonably prejudicial to the
interests of the Qantas Group, for example, information that is
commercially sensitive, confidential or could give a third party a
commercial advantage, has not been included.
EVENTS SUBSEQUENT TO BALANCE DATE
Refer to page 107 for events which occurred subsequent to
balance date. Other than the matters disclosed on page 107,
since the end of the year and to the date of this report no other
matter or circumstance has arisen that has significantly affected
or may significantly affect the Qantas Group’s operations, results
of those operations or state of affairs in future years.
DIRECTORS’ MEETINGS
The number of Directors’ Meetings held (including Meetings of Committees of Directors) during 2013/2014 is as follows:
Qantas Board Audit Committee
1
Safety, Health,
Environment and
Security Committee
1
Remuneration
Committee
1
Nominations
Committee
1
Scheduled
Meetings
Unscheduled
Meetings
Sub-Committee
Meetings
2
Directors
Attended Held
3
Attended Held
3
Attended Held
3
Attended Held
3
Attended Held
3
Attended Held
3
Attended Held
3
Leigh Clifford 7744224––––––22
Alan Joyce 7744224– – 4 4 – – – –
Maxine Brenner55 5 4 4 – – 2 2 – – 2 2 – –
Peter Cosgrove64 4 3 4 – – – – 2 2 – – – –
Patricia Cross73 3 – – – – 1 1 – – 1 1 1 1
Richard Goodmanson 7 7 4 4 – – – – 4 4 – – 2 2
Jacqueline Hey85 5 4 4 – – 3 3 – – – – – –
Garry Hounsell 77442244 4 – – – – 2 2
William Meaney97 7 4 4 – – – – 4 4 2 2 – –
Paul Rayner10 7 7 4 4 – – 1 1 – – 3 3 1 1
Barbara Ward 7 7 4 4 – – 4 4 4 4 – – – –
1 All Directors are invited to, and regularly attend, Committee meetings in an ex-officio capacity. The above table reflects the attendance of a Director only where he or she is a member
of the relevant Committee.
2 Sub-Committee meetings convened for specific Board-related business.
3 Number of meetings held during the period that the Director held office.
4 Number of meetings held and requiring attendance.
5 Ms Brenner was appointed as a Member of the Remuneration Committee on 29 August 2013 and as a Member of the Audit Committee on 26 February 2014.
6 Mr Cosgrove resigned as a Director on 28 January 2014.
7 Mrs Cross retired as a Director on 18 October 2013.
8 Ms Hey was appointed as a Member of the Audit Committee on 29 August 2013.
9 Mr Meaney was appointed as a Member of the Remuneration Committee on 19 October 2013.
10 Mr Rayner retired as a Member of the Audit Committee and was appointed as Chairman of the Remuneration Committee and a Member of the Nominations Committee on
19October2013, following the retirement of Mrs Cross.