NOTES TO THE FINANCIAL STATEMENTS
SECTION C Group structure CONTINUED
C2 TRANSACTIONS WITH THE GROUP AND OTHER RELATED ENTITIES Inter-company transactions and balances between entities within the Group are eliminated in the preparation of Group financial statements. Airways, a State-Owned Enterprise, transacts with other New Zealand government-related entities. The most significant of these transactions are with Air New Zealand (a Mixed Ownership Model company), who were charged $135.0 million by Airways in the current financial year (2018: $129.0 million).
C3 TRANSACTIONS WITH MANAGEMENT AND DIRECTORS
For the year ended 30 June
KEY MANAGEMENT + COMPENSATION Salaries and other short-term employee benefits (including termination benefits of nil (2018: $0.274 million)*
Kiwisaver/ superannuation contributions
DIRECTORS’ FEES Directors’ fees paid
+Key management include the Chief Executive Officer and their direct reports. * No salaries or other short term employee benefits were paid to Directors.
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