Qantas 2006 Annual Report Download - page 117
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115
Qantas Annual Report 2006
Notes to the Financial Statements
for the year ended 30 June 2006
28. Investments Accounted for Using the Equity Method
Qantas Group
2006
$M
2005
$M
Share of net profit of associated and jointly controlled entities included in the Income Statement
– associates 12.4 8.0
– jointly controlled entities 26.5 7.7
38.9 15.7
Investments accounted for using the equity method included in the Balance Sheet
– associates 67.0 69.4
– jointly controlled entities 305.9 286.6
372.9 356.0
(A) INVESTMENTS IN ASSOCIATES
Details of interests in associates are as follows:
Ownership
Interest
Amount of
Investment
Qantas Group Qantas Group
Name
Principal
Activity
Country of
Incorporation
Balance
Date
2006
%
2005
%
2006
$M
2005
$M
Air Pacific Limited Air transport Fiji 31 Mar 46.3 46.3 57.7 51.9
Hallmark Aviation Services LP Passenger handling
services
United States
of America 31 Dec 49.0 49.0 1.9 2.4
HT & T Travel Philippines Inc. Tours and travel Philippines 30 Jun 28.1 –0.2 –
Holiday Tours and Travel (Thailand)
Limited Tours and travel Thailand 31 Dec 36.8 36.8 0.4 0.2
Holiday Tours and Travel
Vietnam Joint Venture Company Tours and travel Vietnam 30 Jun 36.8 36.8 0.1 0.1
Jupiter Air Oceania Limited Freight services Australia 31 Dec 47.6 47.6 0.5 0.5
TET Limited Tours and travel Thailand 31 Dec 36.8 36.8 1.1 1.0
Thai Air Cargo Company Limited1Freight services Thailand 31 Dec 49.0 49.0 –2.4
Travel Software Solutions Pty Limited Reservations systems Australia 30 Jun 50.0 50.0 5.1 10.9
Total associates 67.0 69.4
1 This investment is held for sale at 30 June 2006 as described in Note 9. As at 30 June 2006, its total assets were $3.2 million, total liabilities were nil and its results to
30 June 2006 were equity accounted.