Qantas 2008 Annual Report Download - page 57

The Directors of Qantas Airways Limited (Qantas) present their Report
together with the Financial Statements of the consolidated entity, being
Qantas and its controlled entities (Qantas Group), for the year ended
30 June 2008 and the Independent Audit Report thereon.
Directors
The Directors of Qantas at any time during or since the end of the
year are:
Details of Directors, their qualifi cations, experience and any special
responsibilities, including Qantas Committee Memberships, are set
out on pages 42 to 45.
Principal Activities
The principal activities of the Qantas Group during the course of the
year were the operation of international and domestic air transportation
services, the provision of time defi nite freight services, the operation of
a Frequent Flyer loyalty program, the sale of international and domestic
holiday tours and associated support activities including fl ight training,
catering, passenger and ground handling, and engineering and
maintenance. There were no signifi cant changes in the nature of the
activities of the Qantas Group during the year.
Dividends
The Directors declared a fi nal dividend of $322.1 million (fi nal dividend
of 17.0 cents per share) for the year ended 30 June 2008 (2007: fi nal
dividend of 15.0 cents per share). The fi nal dividend will be fully
franked and follows a fully franked interim dividend of $342.0 million
(18.0 cents per share), which was paid during the year.
Review of Operations and State of Affairs
A review of, and information about, the Qantas Group’s operations,
including the results of those operations and changes in the state of
affairs of the Qantas Group during the year together with information
about the fi nancial position of the Qantas Group, appear on pages
10 to 41. In the opinion of the Directors, there were no other signifi cant
changes in the state of affairs of the Qantas Group that occurred during
the year under review.
Events Subsequent to Balance Date
On 25 July 2008, the Qantas Group completed the acquisition of
a 58 per cent interest in Jetset Travelworld Ltd in exchange for the
disposal of Qantas Holidays Limited and Qantas Business Travel Pty
Limited to Jetset Travelworld Ltd.
For further details refer to Note 34 in the Financial Statements.
Other than the matter disclosed above, there has not arisen since
the end of the year and to the date of this Directors’ Report, any other
matter or circumstance that has signifi cantly affected or may signifi cantly
affect the Qantas Group’s operations, results of those operations
or state of affairs in future years.
Likely Developments
Further information about the likely developments in the operations
of the Qantas Group in future years and the expected results of those
operations has been omitted from this Directors’ Report because
disclosure of the information is likely to result in unreasonable prejudice
to the Qantas Group. Further information about the Qantas Group’s
business strategies and its prospects for future years has been omitted
from this Directors’ Report because disclosure of the information is likely
to result in unreasonable prejudice to the Qantas Group.
Patricia Cross
Richard Goodmanson
(appointed 19 June 2008)
Garry Hounsell
James Packer
(resigned 31 August 2007)
Paul Rayner
(appointed 16 July 20 08)
John Schubert
James Strong, AO
Barbara Ward
(appointed 19 June 2008).
Leigh Clifford, AO
(appointed 9 August 2007 and
Chairman from 14 November 2007)
Margaret Jackson, AC
(retired 14 November 2007)
Geoff Dixon
Alan Joyce
(appointed 28 July 2008)
Peter Gregg
Paul Anderson
(resigned 16 April 2008)
Mike Codd, AC
Peter Cosgrove, AC, MC
Directors’ Meetings
The number of Directors’ Meetings held (including Meetings of Committees of Directors) during 2007/08 are as follows:
Qantas Board
Audit
Committee
Safety,
Environment &
Security Committee
Remuneration
Committee
Nominations
Committee
Scheduled
Meetings
Unscheduled
Meetings
Directors Attended Held1Attended Held1Attended Held1Attended Held1Attended Held1Attended Held1
Leigh Clifford 88222
242 223 253 33
Margaret Jackson 5511 1
211 222 2533
Geoff Dixon 99334
24235 271 25
Peter Gregg 99334
24––––––
Paul Anderson 6723 – – – – 6 7 1
24
Mike Codd 99234 4 3 3 1
273 25
Peter Cosgrove 9 9 1 3 – – 3 3 – – 225
Patricia Cross 99333 4 – – 7 7 3
25
Richard Goodmanson 1 1 – – – – – – – – – –
Garry Hounsell 89334 4 2
231 274 45
James Packer –3–1– – – – – – – –
John Schubert 9933 – – 3 3 – – 5 5
James Strong 9923– – – – 7 7 2
25
Barbara Ward 1 1 – – – – – – – – – –
Refl ects the number of Meetings held during the time that the Director held offi ce during the year.
Attended Meetings in an ex-offi cio capacity.
Leigh Clifford was appointed Chairman of the Nominations Committee on 14 November 2007. Mr Clifford attended one Meeting in an ex-offi cio capacity and the remainder as Committee Chairman.
Garry Hounsell was appointed to the Nominations Committee on 18 July 2007. Mr Hounsell attended one Meeting in an ex-offi cio capacity and the remainder as a Member of the Committee.
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55 Qantas Annual Report 2008
Directors’ Report
for the year ended 30 June 2008
For personal use only