PPRuNe Forums - View Single Post - 9 x J*HK new A320's parked at toulouse !!!
Old 19th Mar 2014, 08:09
  #17 (permalink)  
600ft-lb
 
Join Date: Dec 2007
Location: The Bubble
Posts: 636
Just like Dennis Choo pays for the Jetstar Asia leases? Yea right! Isn't this misleading of Jayne? How is it that the $3 billion is now $2.4 billion?
The devil is in the detail of the 2009 annual report from Qantas. Page 126 for those interested.

On 8 April 2009, the Qantas Group increased its ownership in Orangestar Investment Holdings Pte Limited and its controlled entities (the Jetstar Asia Group) to 49% from 45%. The transaction was completed via a newly incorporated entity, Newstar Investment Holding Pte. Ltd. (Newstar), in which the Qantas Group owns 49 per cent. Through funding provided by the Qantas Group, Newstar acquired 100 per cent of the Jetstar Asia Group. The substance of this transaction is such that the Qantas Group can control (as defined by AASB 127 Consolidated and Separate Financial Statements) 100 per cent of the economic interest in the Jetstar Asia Group. Consequently, Jetstar Asia Group is consolidated in the Qantas Group Financial Statements. Prior to the completion of the transaction, the Qantas Group reviewed the carrying value of its equity investment in the Jetstar Asia Group, resulting in the reversal of approximately $19million (before tax) losses.
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