Airways Corporation of New Zealand Limited Annual Report 2018 2019
NOTES TO THE FINANCIAL STATEMENTS
SECTION C Group structure
C1 GROUP ENTITIES AND OWNERSHIP Airways Corporation of New Zealand Limited is a limited liability company incorporated and domiciled in New Zealand. The address of its registered office is Level 2, 6 Leonard Isitt Drive, Auckland, New Zealand. It is also a State-Owned Enterprise established under the State-Owned Enterprise Act 1986 with shares held in equal numbers by the Minister for State-Owned Enterprises and the Minister of Finance, on behalf of the Crown. Subsidiaries are all entities over which Airways has control. Airways controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to Airways and are deconsolidated from the date that control ceases. Accounting policies of subsidiaries are consistent with the policies adopted by the Parent, and all subsidiaries share a 30 June balance date. The Parent recognises its investment in subsidiaries at cost, less impairment. Key details for each subsidiary in the Group are provided in the table below. All entities are incorporated in New Zealand.
CHAIR AND CEO’S REVIEW
INVESTING IN THE FUTURE
INTEGRATING DRONES INTO OUR AIRSPACE
AIRWAYS INTERNATIONAL
PROVISION OF AIR TRAFFIC MANAGEMENT SERVICES PRINCIPAL ACTIVITY
AIRWAYS CORPORATION OF NEW ZEALAND LIMITED (ACNZ)
SUSTAINABILITY
AIRWAYS INTERNATIONAL LIMITED (AIL)
REVENUE MANAGEMENT, RECRUITMENT AND TRAINING, AND AIR NAVIGATION SERVICES AND MAINTENANCE OF SYSTEMS AVIATION ENGLISH TRAINING AERONAUTICAL INFORMATION MANAGEMENT, PROCEDURE DESIGN AND DEVELOPMENT SERVICES A NEW ENTITY INCORPORATED 16 NOVEMBER 2018 TO DELIVER UNMANNED AERIAL VEHICLE (UAV) AND DRONE TRAFFIC MANAGEMENT SERVICES (CURRENTLY NOT TRADING)
AIRWAYS BOARD OF DIRECTORS
AIRWAYS TRAINING LIMITED (ATL)
AEROPATH LIMITED (AEROPATH)
FINANCIALS
AIRSHARE LIMITED
FINANCIAL PERFORMANCE
PERFORMANCE AND PROGRESS AGAINST SCI METRICS
The ownership structure of the Group as at balance date is shown in the diagram below.
ACNZ (PARENT)
FINANCIAL STATEMENTS
NOTE STRUCTURE
HOW THE NUMBERS ARE CALCULATED GROUP STRUCTURE RISK UNRECOGNISED ITEMS OTHER INFORMATION
AIRWAYS INTERNATIONAL LTD (AIL)
AIRSHARE LTD (AIRSHARE)
100%
100%
AUDIT REPORT
EVA KEY PERFORMANCE INDICATORS
AIRWAYS TRAINING LTD (ATL)
AEROPATH LTD (AEROPATH)
100%
100%
ADDITIONAL FINANCIAL INFORMATION
GOVERNANCE AT AIRWAYS
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