Qantas 2014 Annual Report Download - page 98

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96
QANTAS ANNUAL REPORT 2014
NOTES TO THE FINANCIAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 30 JUNE 2014
26. NOTES TO THE CASH FLOW STATEMENT CONTINUED
(B) FINANCING FACILITIES
The total amount of financing facilities available to the Qantas Group as at balance date is detailed below:
Qantas Group
2014
$M
2013
$M
FINANCING FACILITIES
Committed bank overdraft
Facility available 7 7
Amount of facility used – –
Amount of facility unused 7 7
Committed secured funding
Facility available 500 52
Amount of facility used – –
Amount of facility unused 500 52
Committed revolving facility1
Facility available 630 630
Amount of facility used – –
Amount of facility unused 630 630
Commercial paper and medium-term notes (subject to Dealer Panel participation)
Facility available 1,000 1,000
Amount of facility used (950) (250)
Amount of facility unused 50 750
1 The revolving facility includes $400million with a term of three years from 5 October 2012 and $230million with a term of four years from 26 April 2013.
The bank overdraft facility covers the combined balances of Qantas and its wholly owned controlled entities. Subject to the
continuance of satisfactory credit ratings, the bank overdraft facility may be utilised at any time. This facility may be terminated
without notice.
27. DISPOSAL OF CONTROLLED ENTITIES
DISPOSAL OF QANTAS DEFENCE SERVICES PTY LTD
On 28 February 2014, Qantas sold its wholly owned subsidiary Qantas Defence Services Pty Limited (QDS) and related assets to
Northrop Grumman Australia, part of global aviation firm Northrop Grumman Corporation. The Group received cash of $80million
and recognised a gain on sale of $62million during the year ended 30 June 2014 for the business and other related assets.
28. COMMITMENTS
(A) FINANCE LEASE AND HIRE PURCHASE COMMITMENTS
Qantas Group
2014
$M
2013
$M
AS LESSEE
Finance lease and hire purchase liabilities included in the Consolidated Financial Statements
Aircraft and engines – payable:
Not later than one year 262 257
Later than one year but not later than five years 402 345
Later than five years 946 439
1,610 1,041
Less: future lease and hire purchase finance charges and deferred lease benefits (300) (165)
Total finance lease and hire purchase liabilities 1,310 876