Qantas 2006 Annual Report Download - page 129
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127
Qantas Annual Report 2006
Notes to the Financial Statements
for the year ended 30 June 2006
35. Non-Director Related Parties
CONTROLLED ENTITIES
Details of interests in controlled entities are set out in Note 26. Transactions between Qantas and controlled entities are conducted on normal business terms
and conditions. In addition, the Qantas Group has pooled funding arrangements with its major domestic banker and as such reciprocal borrowings occur
regularly between Qantas and its controlled entities.
Transactions between Qantas and related parties in the wholly-owned group include:
• Qantas provides a range of administrative and treasury services to controlled entities;
• Qantas leased aircraft to and provided maintenance services to Australian Airlines Limited (Australian Airlines);
• Qantas provides ground handling services to Australian Airlines, Jetstar Airways Pty Limited (Jetstar) and QantasLink;
• Australian Airlines, Jetstar and QantasLink provide freight capacity to Qantas;
• Qantas Flight Catering Holdings Limited and controlled entities and Snap Fresh Pty Limited provide airline catering and related services to Qantas,
Australian Airlines and QantasLink;
• Qantas codeshares on certain Jetstar services for inbound international passengers and Qantas Frequent Flyers for which it pays capacity hire costs;
• Jetstar acts as an agent for QH Tours;
• QH Tours Ltd and controlled entities and Qantas act as an agent for each other’s products;
• Southern Cross Insurances Pte Limited provides insurance services to Qantas;
• AAL Aviation Limited and its controlled entities assist in the hiring of aircraft capacity;
• Qantas Cabin Crew (UK) Limited provides cabin crew to Qantas;
• Jetconnect Limited provides fl ights and cabin crew to Qantas;
• Qantas leases aircraft from controlled entities;
• Qantas leases property to and from controlled entities; and
• Qantas leases aircraft to Jetstar.
Transactions and balances with partly and wholly-owned controlled entities are included in the Financial Statements as follows:
Qantas
2006
$M
2005
$M
Sales and other income (refer Note 2) 233.1 123.3
Finance income (refer Note 2) –0.1
Finance costs (refer Note 3) 80.3 84.1
Current receivables (refer Note 7) 106.5 90.0
Non-current receivables (refer Note 7) 545.7 687.1
Current payables (refer Note 15) 87.6 80.4
Non-current interest-bearing liabilities (refer Note 16) –137.3