Qantas 2016 Annual Report Download - page 89

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Notes to the Financial Statements continued
For the year ended 30 June 2016
26 RELATED PARTIES
(A) REMUNERATION OF KEY MANAGEMENT PERSONNEL
The aggregate remuneration of the KMP of the Qantas Group is set out below:
2016
$’000
2015
$’000
Short-term employee benefits 16,832 13,985
Post-employment benefits 501 605
Other long-term benefits1(141) 306
Share-based payments 7,0 0 3 6,463
Termination benefits –1,316
24,195 22,675
1 Other long-term benefits include movement in annual leave and long service leave balances. The accounting value of other long-term benefits may be negative, for example where an
Executive’s annual leave balance decreases as a result of taking more than the 20 days annual leave they accrue during the year.
Further details in relation to the remuneration of KMPs are included in the Directors’ Report from pages 30 to 48.
(B) OTHER RELATED PARTY TRANSACTIONS – INVESTMENTS ACCOUNTED FOR UNDER THE EQUITY METHOD
Transactions with investments accounted for under the equity method are conducted on normal terms and conditions.
Transactions between the Qantas Group and associates include:
–The Qantas Group provides airline seats on domestic and international routes to Helloworld Ltd for sale through its travel agency network
–The Qantas Group sells Frequent Flyer points to Helloworld Ltd and redeems vouchers on the Qantas Frequent Flyer store
–The Qantas Group established a business service agreement with Jetstar-branded airlines in Japan and Vietnam for the
provisionof business services to enable the low-cost airline to operate a consistent customer experience for the Jetstar brand
27 POST BALANCE DATE EVENTS
Other than as noted in Note 6 - Dividends and Other Shareholder Distributions, there has not arisen in the interval between
30 June2016 and the date of this Report any other event that would have had a material effect on the Consolidated Financial
Statements as at 30 June 2016.
28 PARENT ENTITY DISCLOSURES – QANTAS AIRWAYS LIMITED
(A) CONDENSED INCOME STATEMENT FOR THE YEAR ENDED 30 JUNE 2016
2016
$M
2015
$M
Revenue and other income 10,753 11,254
Expenditure (9,983) (10,139)
Statutory profit before income tax expense and net finance costs 770 1,115
Net finance costs (203) (246)
Statutory profit before income tax (expense)/benefit 567 869
Income tax (expense)/benefit (161) (88)
Statutory profit for the year 406 781
87
QANTAS ANNUAL REPORT 2016