Qantas 2012 Annual Report Download - page 94
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FOR THE YEAR ENDED 30 JUNE 2012
Notes to the Financial Statements continued
Qantas Group
2012
$M
2011
$M
Share of net (loss)/profit of associates and jointly controlled entities
Associates ()
Jointly controlled entities
Total share of net profit of associates and jointly controlled entities
Investments accounted for using the equity method
Associates
– Jetset Travelworld Limited
– Other
Total investments in associates
Jointly controlled entities
– AUX Investment Pty Limited
– Other –
Total investments in jointly controlled entities
Total investments accounted for using the equity method
A INVESTMENTS IN ASSOCIATES
Details of interests in associates are as follows:
Qantas Group
Ownership Interest
Principal Activity Country of Incorporation
Balance
Date
2012
%
2011
%
Air Pacific Limited1Air transport Fiji Mar –
Fiji Resorts Limited Resort accommodation Fiji Dec
Hallmark Aviation Services L.P. Passenger handling services United States of America Dec
HT & T Travel Philippines, Inc. Tours and travel Philippines Jun
Holiday Tours and Travel (Thailand) Ltd Tours and travel Thailand Dec
Holiday Tours & Travel Vietnam Co. Ltd Tours and travel Vietnam Jun
Jetset Travelworld Limited2Travel products and services Australia Jun
Jetstar Japan Co., Ltd.3Air transport Japan Jun –
Jetstar Pacific Airlines Aviation
Joint Stock Company4Air transport Vietnam Dec
PT Holidays Tours & Travel Tours and travel Indonesia Dec
Tour East (T.E.T) Ltd Tours and travel Thailand Dec
1 Legislative changes in Fiji culminated on 29 May 2012 with the Qantas Group removing its director representatives from the Board of Air Pacific Limited (Air Pacific). As a result,
Air Pacific ceased to be an associate as the Qantas Group no longer has significant influence. The Qantas Group continues to hold a 46 per cent ownership interest in Air Pacific.
2 Jetset Travelworld Limited is a company whose shares are traded on the ASX. As at 30 June 2012 the fair value based on a quoted price of Qantas’ investment is $47 million.
Qantas’ share of the net assets of Jetset Travelworld Limited is $122 million as at 30 June 2012.
3 Jetstar Japan Co., Ltd., is a venture between Qantas, Japan Airlines Co., Ltd., Century Tokyo Leasing Corporation and Mitsubishi Corporation, which was incorporated
on 5 September 2011.
4 The Qantas Group acquired an additional 3 per cent of Jetstar Pacific Airlines Aviation Joint Stock Company on 29 February 2012.
15. Investments Accounted for Using the Equity Method
QANTAS ANNUAL REPORT 2012092