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99
Qantas Annual Report 2005
~Notes to the Financial Statements~
for the year ended 30 June 2005
30. Investments accounted for using the equity method
Qantas Group
2005
$M
2004
$M
Share of net profit/(loss) accounted for using the equity method included
in the Statements of Financial Performance
– associates (10.8) 8.1
– joint ventures 12.6 11.6
1.8 19.7
Investments accounted for using the equity method included
in the Statements of Financial Position
– associates 73.9 69.7
– joint ventures 269.8 270.0
343.7 339.7
(a) INVESTMENTS IN ASSOCIATES
Details of interests in associates are as follows:
Ownership
Interest
Amount of
Investment
Qantas GroupQantasQantas Group
Name
Principal
Activity
Balance
Date
2005
%
2004
%
2005
%
2004
%
2005
$M
2004
$M
Air Pacific Limited Air transport 31 Mar 46.3 46.3 46.3 46.3 51.5 45.0
Hallmark Aviation Services LP Passenger handling
services 31 Dec 49.0 49.0 49.0 49.0 2.3 2.7
Holiday Tours and Travel
(Thailand) Limited Tours and travel 31 Dec 36.8 36.8 ––0.2 0.1
Holiday Tours and Travel
Vietnam Joint Venture
Company Tours and travel 30 Jun 36.8 –––0.1 –
Jetstar Asia Airways Pte
Limited Air transport 31 Mar 49.0 49.99 ––5.0 9.8
Jupiter Air Oceania Limited Freight services 31 Dec 47.6 47.6 47.6 47.6 0.5 0.2
TET Limited Tours and travel 31 Dec 36.8 36.8 ––1.0 1.0
Thai Air Cargo Co., Ltd. Freight services 31 Dec 49.0 –––2.4 –
Travel Software Solutions
Pty Limited Reservations systems 30 Jun 50.0 50.0 25.0 25.0 10.9 10.9
Total associates 73.9 69.7
Dividends/distributions received from associates for the year ended 30 June 2005 by the Qantas Group amounted to $2.6 million
(2004: $4.1 million) and by Qantas $2.6 million (2004: $2.9 million).