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17. FINANCIAL INSTRUMENTS (CONTINUED)
COMPANY
AS AT 30 JUNE 2009
BALANCE
SHEET
$M
CONTRACTUAL
CASH FLOWS
$M
< 1 YEAR
$M
1-2 YEARS
$M
2-5 YEARS
$M
5+ YEARS
$M
Trade and other payables 332 332 332 - - -
Finance lease obligations 252 290 30 28 101 131
Amounts owing to subsidiaries 1,261 1,261 1,166 - - 95
Amounts owing to associates 1 1 1 - - -
Total non-derivative liabilities 1,846 1,884 1,529 28 101 226
COMPANY
AS AT 30 JUNE 2008
BALANCE
SHEET
$M
CONTRACTUAL
CASH FLOWS
$M
< 1 YEAR
$M
1-2 YEARS
$M
2-5 YEARS
$M
5+ YEARS
$M
Bank overdraft and short-term borrowings 1 1 1 - - -
Trade and other payables 419 419 419 - - -
Finance lease obligations 274 396 43 42 126 185
Amounts owing to subsidiaries 1,128 1,128 1,034 - - 94
Amounts owing to associates 1 1 1 - - -
Total non-derivative liabilities 1,823 1,945 1,498 42 126 279
The following table sets out the contractual, undiscounted cash flows for derivative financial instruments:
GROUP AND COMPANY
AS AT 30 JUNE 2009
BALANCE
SHEET
$M
CONTRACTUAL
CASH FLOWS
$M
< 1 YEAR
$M
1-2 YEARS
$M
2-5 YEARS
$M
5+ YEARS
$M
Foreign exchange derivatives:
- Inflow 3,034 2,837 197 - -
- Outflow (3,272) (3,047) (225) - -
(221) (238) (210) (28) - -
Fuel derivatives 57 46 46 - - -
(164) (192) (164) (28) - -
GROUP AND COMPANY
AS AT 30 JUNE 2008
BALANCE
SHEET
$M
CONTRACTUAL
CASH FLOWS
$M
< 1 YEAR
$M
1-2 YEARS
$M
2-5 YEARS
$M
5+ YEARS
$M
Foreign exchange derivatives:
- Inflow 3,987 3,603 384 - -
- Outflow (4,095) (3,694) (401) - -
(47) (108) (91) (17) - -
Fuel derivatives 176 173 173 - - -
Interest rate derivatives (2) (2) (2) - - -
127 63 80 (17) - -
AIR NEW ZEALAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
AS AT 30 JUNE 2009
32