Qantas 2008 Annual Report Download - page 132
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130 Qantas Annual Report 2008
Notes to the Financial Statements
for the year ended 30 June 2008
(B) Non-Key Management Personnel
Controlled entities
Details of interests in controlled entities are set out in Note 31. 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, fi nancial and treasury services to controlled entities;
Qantas provides ground handling services to Jetstar Airways Pty Limited (Jetstar) and QantasLink;
Jetstar and QantasLink provide freight capacity to Qantas;
Qantas Catering Group Limited and controlled entities and Snap Fresh Pty Limited provide airline catering and related services to Qantas
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 Ltd;
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 and its controlled entities;
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;
Qantas leases aircraft to Jetstar;
Qantas leases aircraft to Express Freighters Australia Pty Limited;
Qantas has an engine tooling arrangement with Jet Turbine Services Pty Limited; and
Qantas receives engine maintenance services from Jet Turbine Services Pty Limited.
Transactions and balances with partly and wholly-owned controlled entities are included in the Financial Statements as follows:
Qantas
Notes
2008
$M
2007
$M
Sales and other income 4338.8 461.0
Dividend revenue 4601.8 –
Finance costs 598.5 83.0
Current receivables 11 1,630.1 93.0
Non-current receivables 11 395.6 797.6
Current payables 19 888.9 576.2
Current interest-bearing liabilities 21 176.7 174.0
Non-current interest-bearing liabilities 21 1,202.2 1,419.4
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30. Related Parties continued
For personal use only