Background information

Assume that your firm is successful in gaining the audit of Air New Zealand Limited. You are asked by the audit engagement partner to plan the audit, in particular determine areas of risk, materiality and assertions to be examined. As always you wish to keep your detection risk to a minimum.

NOTE: You are not expected to assess control risks asthis would require having accessto this entity, which is not permitted for the purposes of this presentation workshop.

Questions to be addressed by those presenting (and for those not presenting, in bullet-point

summaries) are:

a) Carry out a preliminary analytical procedure to review the Air New Zealand annual

financial statements as these are appropriate for the client. Explain the reason for choosing

selected ratios, what you found and, how the results will influence your planning of the audit.

b) Based on the business risk and industry risk identified (in workshop 1) for Air New

Zealand, what assertions over account balances and other disclosures in the financial

statements will these risks impact and how? Identify key assertions that you think need to be

tested and explain the audit objective behind these tests.

c) Using your judgement, identify a base and select a materiality level for Air New

Zealands (Group) balance sheet. Justify y o u r decision. Allocate that amount to the

balance sheet accountsin proportion to their $ size and assessthe results. Consider what would have occurred if you had chosen a larger or a smaller materiality amount, or if you had

allocated them differently

Please answer the questions which you are able to answer.

For more information, could you search Air Newzealand financial statement online because there are too many pages need to take photos.

AIR NEW ZEALAND GROUP STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR TO 30 JUNE 2019 2019 SM 2018 SM NOTE Net Profit for the Year 270 390 (9) 3 3 (6) Other Comprehensive Income: Items that will not be reclassified to profit or loss: Actuarial losses on defined benefit plans Taxation on above reserve movements Total items that will not be reclassified to profit or loss Items that may be reclassified subsequently to profit or loss: Changes in fair value of cash flow hedges Transfers to net profit from cash flow hedge reserve Net translation gain on investment in foreign operations Changes in cost of hedging reserve Taxation on above reserve movements Total items that may be reclassified subsequently to profit or loss Total Other Comprehensive Income for the Year, Net of Taxation Total Comprehensive Income for the Year, Attributable to Shareholders of the Parent Company (41) (85) 159 (92) 2 12 (21) 60 (8) 38 3 (96) (102) 60 450 168 AIR NEW ZEALAND ANNUAL FINANCIAL RESULTS 2019 STATEMENT OF CHANGES IN EQUITY FOR THE YEAR TO 30 JUNE 2019 SHARE CAPITAL SM HEDGE RESERVES SM FOREKON CURRENCY TRANSLATION RESERVE SM GENERAL RESERVES SM TOTAL FOUNITY SM NOTES 2.226 66 (13) .- (103) 270 (6) 264 2,176 270 (102) 168 197 (97) 1 Balance as at 1 July 2018 Net profit for the year Other comprehensive income for the year Total Comprehensive Income for the Year Transactions with Owners: Equity-settled share-based payments (net of taxation) Equity settlements of long-term incentive obligations Dividends on Ordinary Shares Total Transactions with Owners Balance as at 30 June 2010 3,17 12 16 (14) (248) (248) (87) 7 (14) (248) (255) 2,089 2.219 (31) (12) FOREIGN CURRENCY TRANSLATION RESERVE HEDGE RESERVES IV SHARE CAPITAL SM 2238 NOTES GENERAL RESERVES IM TOTAL EQUITY 9 (16) 0245) 300 1986 390 80 57 57 390 450 Balance as at 1 July 2017 Not profit for the year Other comprehensive income for the year Total Comprehensive income for the Year Transactions with Owners Equity - Daynents not Taxation gutytents of terminative obligations Dideos Share Total Transactions with Owners Balance as at 30 June 2013 3.17 tra (248) 21 2002 03 STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2019 5 LOSS 7 22 81 48 1,343 570 75 187 4 68 2.253 8 56 1804 Current Assets Bank and short-term deposits Trade and other receivables Inventories Derivative financial assets Income taxation Other assets Total Current Assets Non-Current Assets Trade and other receivables Property, plant and equipment Intangible assets Investments in other entities Derivative financial assets Other assets Total Non-Current Assets Total Assets 6 9 10 11 64 5.258 TT 5.035 170 18 2 191 149 285 5.95 7750 5.593 7840 585 1372 307 Current abilities Trade and other payables Revenue in advance Interest-bearing tabi Derivative financial lates Provisions income taxation Other abilities Total Current Liabilities Non-Current Liabilities Revenue in advance 13 22 14 1322 431 1 177 32 105 25 240 15 263 2.00 2006 12 200 2.200 5 42 185 2.300 151 Total Non-Current Liabilities 38 2.14 3.000 5.667 Met Art STATEMENT OF CASH FLOWS FOR THE YEAR TO 30 JUNE 2019 2010 SM NOTES SM Cash Flows from Operating Activities Receipts from customers Payments to suppliers and employees Income tax paid Interest paid Interest received Net Cash Flow from Operating Activities 5,869 (4,835) (23) (71) 46 5,444 (4,307) (81) (63) 5 986 1,031 24 Cash Flows from Investing Activities Disposal of property, plant and equipment, intangibles and assets held for resale Distribution from associates Acquisition of property, plant and equipment and intangibles Interest-bearing asset payments Net Cash Flow from Investing Activities 13 7 (821) (82) 33 16 (809) (18) (883) (778) 347 (20) 17 Cash Flows from Financing Activities Interest-bearing liabilities drawdowns Rollover of foreign exchange contracts Equity settlements of long-term incentive obligations Interest-bearing liabilities payments Dividends on Ordinary Shares Net Cash Flow from Financing Activities Decrease in Cash and Cash Equivalents Cash and cash equivalents at the beginning of the year Cash and Cash Equivalents at the End of the Year 16 263 58 (14) (438) (260) (391) (288) 1.343 (329) (260) (279) 126) 1.360 1343 5 1055 Relates to Owostes on rollover of foreign exchange contracts that hedge exposures in other financial periods Cattan balances for the year to 30 June 2018 have been restated following the adoption of NZ IFRS 15 Revenue from Contracts with Du STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR TO 30 JUNE 2019 Operating Revenue Passenger revenue 4.000 4600 Contract services 197 193 Other revenue 210 1 5.785 5.495 Operating Expenditure Labour 35 1290 (278 con Maintenance 200 359 Aircraft operations Passenger services Sales and marketing 3500 Foreign exchange ganse Other expenses 200 2 (4.2000 Operating Earnings (excluding hems below) 1180 1292 Depreciation and amortisation 15250 Rental and lesen 2462 Earnings Before Finance Costs, Associates and Taxation 358 540 Finance income 40 Finance costs Share of earnings of associates net of taxation 31 33 Earnings Before Taxation 374 540 Taxation en 3 (104) (1500 Net Prof Attributable to Shareholders of Parent Company 270 390 Per Share Information Basic earrings per share cente 240 Diluted earnings per share on Interim and final dividends declared per Share onts 220 Nettangible assets per share cents TO Certain balances for the you to 30 June 2018 have been restated on the option of RS 15 - Revenue from Contract with Customers. Refer to Notes for further details + 11 5 of 80 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR TO 30 JUNE 2019 SM 210 300 SM 390 3 16 Net Profit for the Year Other Comprehensive Income Items that will not be reclassified to profit or loss Actuarial losses on defined benefit plans Taxation on above reserve movements Total items that will not be reclassified to profit or loss Items that may be reclassified subsequently to profit or loss Changes in far value of cash flow hedges Transfers to net profit from cash flow hedge reserve Net translation gain on investment in foreign operations Changes in cost of hedging reserve Taxation on above reserve movements Total items that may be reclassified subsequently to profit or loss Total Other Comprehensive Income for the Year, Net of Taxation Total Comprehensive Income for the Year, Attributable to Shareholders of the Parent Company 159 an 085 2 38 96 100 60 60 450 6 of 80 SALAD ANUAL ANCIAL RESULTS 2010 STATEMENT OF CHANGES IN EQUITY FOR THE YEAR TO 30 JUNE 2019 NATION SM 2.226 00:30 270 1 con an 1 254 Balance as at Auly 2016 Net profit for the year Other comprehensive income for the year Total Comprehensive income for the Year Transactions with Owners: Equity settled share-based payments that of taxation) Equity Settlements of long-term incentive obligations Dividends on Ordinary Shares Total Transactions with Owners Balance as at 30 June 2019 3.17 17 (14) 248) 2480 2.219 8 02 UIT) FOON CNCY SM 2.238 9 245) 300 57 57 3 3 Balance as at 1uly 2011 Net profit for the year Other comprehensive income for the year Total Comprehensive income for the Year Transactions with Owners: Equity settled shwe based payments that of taxation) Equity settlements of long-term incentive obligations Dividends on Ordinary Shares Total Transactions with Owners Balance as at 30 June 2018 5 18 248) 243) 6030 2225 00 7 of 80 STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2019 5 1055 7 81 1504 2:35 Current Assets Bark and short-term deposits Trade and other receivables Inventories Derivative financial Income taxation Other assets Total Current Assets Non-Current Assets Trade and other receivables Property, plant and equipment Intangible assets Investments in other entities Derivative now Others Total Non Current Assets Total Assets 64 5208 S. 38 140 5.950 5.500 307 23 240 2.666 Current Liabilities Trade and other payables Revenue in advance Interest-bearing abilities Derivative financial abilities Provisions Income taxation Other abilities Total Current Liabilities Non Current Labilities Riven in advance Interest-bearing labies Provision Other abilities Deferred taxation Total Non-Current Liabilities Total Liabilities Net Assets 200 165 151 14 15 3 308 304 3.000 5667 20RS 5.670 Equity Share Reserves Total Equity 1300 2089 be lawson Tony Carter Chairman For and on behalf of the Board. 22 August 2019 Jan Dawson Deputy Chairman OPEN IN... 5 of 80 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR TO 30 JUNE 2019 NOTE SM 390 210 9 3 Net Profit for the Year Other Comprehensive Income Items that will not be reclassified to profit or loss Actuarial losses on defined Beneft plans Taxation on above reserve movements Total items that will not be reclassified to profit or loss Items that may be reclassified subsequently to profit or loss Changes in far value of cash flow hedges Transfers to net profit from cash flow hedge reserve Net translation gain on investment in foreign operations Changes in cost of hedging reserve Taxation on above reserve moments Total items that may be reclassified subsequently to profit or loss Total Other Comprehensive Income for the Year, Net of Taxation Total Comprehensive Income for the Year, Attributable to Shareholders of the Parent Company 159 085 2 38 60 60 1 STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR TO 30 JUNE 2019 4.608 Operating Revenue Passenger revenue Curge) Contract services Other revenue 4900 300 197 193 219 5405 5.785 Operating Expenditure TO GE Maintenance Aircraft operations Passenger services Sales and marketing Foreign exchange gains.se Other experts 53 son 246 540 40 48 Operating Carnings excluding items below) Depreciation and amortisation Rental and lease Earnings Before Finance Costs, Associates and Taxation Finance income Finance costs Share of earnings of associates tnet of taxation Earnings Before Taxation Taxation expense Net Profit Attributable to Shareholders of Parent Company Per Share Information Basic earnings persoane Duted earnings per share lente Interim and final dividends declared per share cente 27 314 540 300 4 200 220 129 Certain balances for the year to 30 June 2018 have been rested flowing the ones Revenue from Contacts with Customers. Refer to Note 25 for further details K + 11 6 of 80 med roses tun dan atau tercial statements. NEW ZEALAND ANNALTINANCIAL RESULTS 2010 STATEMENT OF CHANGES IN EQUITY FOR THE YEAR TO 30 JUNE 2019 NATION SM 2.226 00:30 270 060 con 1 1 254 Balance as at 1 y 2018 Net profit for the year Other comprehensive income for the year Total Comprehensive income for the Year Transactions with Owners: Equity settled share-based payments et of taxation) Equity settlements of long-term incentive obligations Dividends on Ordinary Shares Total Transactions with Owners Balance as at 30 June 2019 3.17 17 95 7 (14) 248) 2.2 23 FORON CUENCY CA RESERVES SM 2238 9 no 390 3 ST 57 3 Balance as at 1 July 2011 Net profit for the year Other comprehensive income for the year Total Comprehensive income for the Year Transactions with Owners: Equity settled the based payments (net of taxation) Equity settlements of long-term incentive obligations Dividends on Ordinary Shares Total Transactions with Owners Balance as at 30 June 2018 5 (17) 3.3. 243) 6030 2.226 60 STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR TO 30 JUNE 2019 Operating Revenue Passenger revenue 4.800 30 Contract services 197 193 Other revenue 219 1 5.785 5.495 Operating Expenditure Labour 23 01290 Fuel Maintenance 000 3529 Aircraft operations 1678 30 Passenger services Sales and marketing 350 Foreign exchange gan Other expenses 290 2 14.2030 Operating Earnings (excluding hems below) 1180 1292 Depreciation and amortisation 15250 Rental and loser 245 Earnings Before Finance Costs, Associates and Taxation 358 540 Finance income 40 Finance costs Share of earnings of associates net of taxation 33 Earnings Before Taxation 374 540 Taxation expense 3 (104) (1500 Net Prof Attributable to Shareholders of Purent Company 270 390 Per Share Information Basic earnings per share on 240 347 Diluted earnings per share on 239 344 Interim and final dividends declared per Share on 220 Nettangible assets per share cents TO Certain balances for the you to 30 e 2018 have been restated on the option of RFS 15 - Revenue from Contracts with Customers. Refer to Notes for further details + 11 AIR NEW ZEALAND GROUP STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR TO 30 JUNE 2019 2019 SM 2018 SM NOTE Net Profit for the Year 270 390 (9) 3 3 (6) Other Comprehensive Income: Items that will not be reclassified to profit or loss: Actuarial losses on defined benefit plans Taxation on above reserve movements Total items that will not be reclassified to profit or loss Items that may be reclassified subsequently to profit or loss: Changes in fair value of cash flow hedges Transfers to net profit from cash flow hedge reserve Net translation gain on investment in foreign operations Changes in cost of hedging reserve Taxation on above reserve movements Total items that may be reclassified subsequently to profit or loss Total Other Comprehensive Income for the Year, Net of Taxation Total Comprehensive Income for the Year, Attributable to Shareholders of the Parent Company (41) (85) 159 (92) 2 12 (21) 60 (8) 38 3 (96) (102) 60 450 168 AIR NEW ZEALAND ANNUAL FINANCIAL RESULTS 2019 STATEMENT OF CHANGES IN EQUITY FOR THE YEAR TO 30 JUNE 2019 SHARE CAPITAL SM HEDGE RESERVES SM FOREKON CURRENCY TRANSLATION RESERVE SM GENERAL RESERVES SM TOTAL FOUNITY SM NOTES 2.226 66 (13) .- (103) 270 (6) 264 2,176 270 (102) 168 197 (97) 1 Balance as at 1 July 2018 Net profit for the year Other comprehensive income for the year Total Comprehensive Income for the Year Transactions with Owners: Equity-settled share-based payments (net of taxation) Equity settlements of long-term incentive obligations Dividends on Ordinary Shares Total Transactions with Owners Balance as at 30 June 2010 3,17 12 16 (14) (248) (248) (87) 7 (14) (248) (255) 2,089 2.219 (31) (12) FOREIGN CURRENCY TRANSLATION RESERVE HEDGE RESERVES IV SHARE CAPITAL SM 2238 NOTES GENERAL RESERVES IM TOTAL EQUITY 9 (16) 0245) 300 1986 390 80 57 57 390 450 Balance as at 1 July 2017 Not profit for the year Other comprehensive income for the year Total Comprehensive income for the Year Transactions with Owners Equity - Daynents not Taxation gutytents of terminative obligations Dideos Share Total Transactions with Owners Balance as at 30 June 2013 3.17 tra (248) 21 2002 03 STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2019 5 LOSS 7 22 81 48 1,343 570 75 187 4 68 2.253 8 56 1804 Current Assets Bank and short-term deposits Trade and other receivables Inventories Derivative financial assets Income taxation Other assets Total Current Assets Non-Current Assets Trade and other receivables Property, plant and equipment Intangible assets Investments in other entities Derivative financial assets Other assets Total Non-Current Assets Total Assets 6 9 10 11 64 5.258 TT 5.035 170 18 2 191 149 285 5.95 7750 5.593 7840 585 1372 307 Current abilities Trade and other payables Revenue in advance Interest-bearing tabi Derivative financial lates Provisions income taxation Other abilities Total Current Liabilities Non-Current Liabilities Revenue in advance 13 22 14 1322 431 1 177 32 105 25 240 15 263 2.00 2006 12 200 2.200 5 42 185 2.300 151 Total Non-Current Liabilities 38 2.14 3.000 5.667 Met Art STATEMENT OF CASH FLOWS FOR THE YEAR TO 30 JUNE 2019 2010 SM NOTES SM Cash Flows from Operating Activities Receipts from customers Payments to suppliers and employees Income tax paid Interest paid Interest received Net Cash Flow from Operating Activities 5,869 (4,835) (23) (71) 46 5,444 (4,307) (81) (63) 5 986 1,031 24 Cash Flows from Investing Activities Disposal of property, plant and equipment, intangibles and assets held for resale Distribution from associates Acquisition of property, plant and equipment and intangibles Interest-bearing asset payments Net Cash Flow from Investing Activities 13 7 (821) (82) 33 16 (809) (18) (883) (778) 347 (20) 17 Cash Flows from Financing Activities Interest-bearing liabilities drawdowns Rollover of foreign exchange contracts Equity settlements of long-term incentive obligations Interest-bearing liabilities payments Dividends on Ordinary Shares Net Cash Flow from Financing Activities Decrease in Cash and Cash Equivalents Cash and cash equivalents at the beginning of the year Cash and Cash Equivalents at the End of the Year 16 263 58 (14) (438) (260) (391) (288) 1.343 (329) (260) (279) 126) 1.360 1343 5 1055 Relates to Owostes on rollover of foreign exchange contracts that hedge exposures in other financial periods Cattan balances for the year to 30 June 2018 have been restated following the adoption of NZ IFRS 15 Revenue from Contracts with Du STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR TO 30 JUNE 2019 Operating Revenue Passenger revenue 4.000 4600 Contract services 197 193 Other revenue 210 1 5.785 5.495 Operating Expenditure Labour 35 1290 (278 con Maintenance 200 359 Aircraft operations Passenger services Sales and marketing 3500 Foreign exchange ganse Other expenses 200 2 (4.2000 Operating Earnings (excluding hems below) 1180 1292 Depreciation and amortisation 15250 Rental and lesen 2462 Earnings Before Finance Costs, Associates and Taxation 358 540 Finance income 40 Finance costs Share of earnings of associates net of taxation 31 33 Earnings Before Taxation 374 540 Taxation en 3 (104) (1500 Net Prof Attributable to Shareholders of Parent Company 270 390 Per Share Information Basic earrings per share cente 240 Diluted earnings per share on Interim and final dividends declared per Share onts 220 Nettangible assets per share cents TO Certain balances for the you to 30 June 2018 have been restated on the option of RS 15 - Revenue from Contract with Customers. Refer to Notes for further details + 11 5 of 80 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR TO 30 JUNE 2019 SM 210 300 SM 390 3 16 Net Profit for the Year Other Comprehensive Income Items that will not be reclassified to profit or loss Actuarial losses on defined benefit plans Taxation on above reserve movements Total items that will not be reclassified to profit or loss Items that may be reclassified subsequently to profit or loss Changes in far value of cash flow hedges Transfers to net profit from cash flow hedge reserve Net translation gain on investment in foreign operations Changes in cost of hedging reserve Taxation on above reserve movements Total items that may be reclassified subsequently to profit or loss Total Other Comprehensive Income for the Year, Net of Taxation Total Comprehensive Income for the Year, Attributable to Shareholders of the Parent Company 159 an 085 2 38 96 100 60 60 450 6 of 80 SALAD ANUAL ANCIAL RESULTS 2010 STATEMENT OF CHANGES IN EQUITY FOR THE YEAR TO 30 JUNE 2019 NATION SM 2.226 00:30 270 1 con an 1 254 Balance as at Auly 2016 Net profit for the year Other comprehensive income for the year Total Comprehensive income for the Year Transactions with Owners: Equity settled share-based payments that of taxation) Equity Settlements of long-term incentive obligations Dividends on Ordinary Shares Total Transactions with Owners Balance as at 30 June 2019 3.17 17 (14) 248) 2480 2.219 8 02 UIT) FOON CNCY SM 2.238 9 245) 300 57 57 3 3 Balance as at 1uly 2011 Net profit for the year Other comprehensive income for the year Total Comprehensive income for the Year Transactions with Owners: Equity settled shwe based payments that of taxation) Equity settlements of long-term incentive obligations Dividends on Ordinary Shares Total Transactions with Owners Balance as at 30 June 2018 5 18 248) 243) 6030 2225 00 7 of 80 STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2019 5 1055 7 81 1504 2:35 Current Assets Bark and short-term deposits Trade and other receivables Inventories Derivative financial Income taxation Other assets Total Current Assets Non-Current Assets Trade and other receivables Property, plant and equipment Intangible assets Investments in other entities Derivative now Others Total Non Current Assets Total Assets 64 5208 S. 38 140 5.950 5.500 307 23 240 2.666 Current Liabilities Trade and other payables Revenue in advance Interest-bearing abilities Derivative financial abilities Provisions Income taxation Other abilities Total Current Liabilities Non Current Labilities Riven in advance Interest-bearing labies Provision Other abilities Deferred taxation Total Non-Current Liabilities Total Liabilities Net Assets 200 165 151 14 15 3 308 304 3.000 5667 20RS 5.670 Equity Share Reserves Total Equity 1300 2089 be lawson Tony Carter Chairman For and on behalf of the Board. 22 August 2019 Jan Dawson Deputy Chairman OPEN IN... 5 of 80 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR TO 30 JUNE 2019 NOTE SM 390 210 9 3 Net Profit for the Year Other Comprehensive Income Items that will not be reclassified to profit or loss Actuarial losses on defined Beneft plans Taxation on above reserve movements Total items that will not be reclassified to profit or loss Items that may be reclassified subsequently to profit or loss Changes in far value of cash flow hedges Transfers to net profit from cash flow hedge reserve Net translation gain on investment in foreign operations Changes in cost of hedging reserve Taxation on above reserve moments Total items that may be reclassified subsequently to profit or loss Total Other Comprehensive Income for the Year, Net of Taxation Total Comprehensive Income for the Year, Attributable to Shareholders of the Parent Company 159 085 2 38 60 60 1 STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR TO 30 JUNE 2019 4.608 Operating Revenue Passenger revenue Curge) Contract services Other revenue 4900 300 197 193 219 5405 5.785 Operating Expenditure TO GE Maintenance Aircraft operations Passenger services Sales and marketing Foreign exchange gains.se Other experts 53 son 246 540 40 48 Operating Carnings excluding items below) Depreciation and amortisation Rental and lease Earnings Before Finance Costs, Associates and Taxation Finance income Finance costs Share of earnings of associates tnet of taxation Earnings Before Taxation Taxation expense Net Profit Attributable to Shareholders of Parent Company Per Share Information Basic earnings persoane Duted earnings per share lente Interim and final dividends declared per share cente 27 314 540 300 4 200 220 129 Certain balances for the year to 30 June 2018 have been rested flowing the ones Revenue from Contacts with Customers. Refer to Note 25 for further details K + 11 6 of 80 med roses tun dan atau tercial statements. NEW ZEALAND ANNALTINANCIAL RESULTS 2010 STATEMENT OF CHANGES IN EQUITY FOR THE YEAR TO 30 JUNE 2019 NATION SM 2.226 00:30 270 060 con 1 1 254 Balance as at 1 y 2018 Net profit for the year Other comprehensive income for the year Total Comprehensive income for the Year Transactions with Owners: Equity settled share-based payments et of taxation) Equity settlements of long-term incentive obligations Dividends on Ordinary Shares Total Transactions with Owners Balance as at 30 June 2019 3.17 17 95 7 (14) 248) 2.2 23 FORON CUENCY CA RESERVES SM 2238 9 no 390 3 ST 57 3 Balance as at 1 July 2011 Net profit for the year Other comprehensive income for the year Total Comprehensive income for the Year Transactions with Owners: Equity settled the based payments (net of taxation) Equity settlements of long-term incentive obligations Dividends on Ordinary Shares Total Transactions with Owners Balance as at 30 June 2018 5 (17) 3.3. 243) 6030 2.226 60 STATEMENT OF FINANCIAL PERFORMANCE FOR THE YEAR TO 30 JUNE 2019 Operating Revenue Passenger revenue 4.800 30 Contract services 197 193 Other revenue 219 1 5.785 5.495 Operating Expenditure Labour 23 01290 Fuel Maintenance 000 3529 Aircraft operations 1678 30 Passenger services Sales and marketing 350 Foreign exchange gan Other expenses 290 2 14.2030 Operating Earnings (excluding hems below) 1180 1292 Depreciation and amortisation 15250 Rental and loser 245 Earnings Before Finance Costs, Associates and Taxation 358 540 Finance income 40 Finance costs Share of earnings of associates net of taxation 33 Earnings Before Taxation 374 540 Taxation expense 3 (104) (1500 Net Prof Attributable to Shareholders of Purent Company 270 390 Per Share Information Basic earnings per share on 240 347 Diluted earnings per share on 239 344 Interim and final dividends declared per Share on 220 Nettangible assets per share cents TO Certain balances for the you to 30 e 2018 have been restated on the option of RFS 15 - Revenue from Contracts with Customers. Refer to Notes for further details + 11