Airways Corporation of New Zealand Limited Annual Report 2018 2019
NOTES TO THE FINANCIAL STATEMENTS
SECTION D Unrecognised items
D1 CAPITAL COMMITMENTS The table below illustrates the total capital commitments (both contracted and non-contracted) for Airways at balance date. This programme will be funded through operating cash flow and increased debt (whilst remaining within current loan facilities and covenants).
CHAIR AND CEO’S REVIEW
2019 ($000’s)
2018 ($000’s)
INVESTING IN THE FUTURE
As at 30 June
40,556
32,168
Property, plant and equipment capital commitments
Intangible assets capital commitments
28,850
43,569
INTEGRATING DRONES INTO OUR AIRSPACE
Total capital commitments
69,406
75,737
D2 OPERATING LEASE COMMITMENTS Operating leases relate to the rental of buildings, plant and equipment and are on normal commercial terms and conditions.
AIRWAYS INTERNATIONAL
2019 ($000’s)
2018 ($000’s)
As at 30 June
SUSTAINABILITY
6,408
4,501
Less than one year
One to two years
5,767
5,486
Two to five years
16,357
16,315
AIRWAYS BOARD OF DIRECTORS
Over five years
83,530
35,119
Total operating lease obligations 61,421 Operating commitments have increased as a result of the inclusion of leases for new operational buildings that are scheduled to start early in the 2019/20 financial year. From 1 July 2019, following the adoption of NZ IFRS16, these leases will be recognised on balance sheet. D3 CONTINGENT LIABILITIES Airways has contingent liabilities in respect of financial guarantee contracts of $1.073 million for performance bonds (2018: $0.764 million). 112,062
FINANCIALS
FINANCIAL PERFORMANCE
PERFORMANCE AND PROGRESS AGAINST SCI METRICS
D4 SUBSEQUENT EVENTS There were no subsequent events requiring disclosure.
FINANCIAL STATEMENTS
NOTE STRUCTURE
HOW THE NUMBERS ARE CALCULATED RISK UNRECOGNISED ITEMS GROUP STRUCTURE
OTHER INFORMATION
AUDIT REPORT
EVA KEY PERFORMANCE INDICATORS
ADDITIONAL FINANCIAL INFORMATION
GOVERNANCE AT AIRWAYS
57
Made with FlippingBook - Online Brochure Maker