Statement of Financial Position

as at 30 June 2008

Forecast				Actual
Original Budget $m	Estimated Actuals $m		Note	30 June 2008 $m	30 June 2007 $m
		Assets
3,196	5,217	Cash and cash equivalents		3,804	4,162
12,547	12,326	Receivables	14	14,158	12,057
35,134	36,365	Marketable securities, deposits and derivatives in gain	15	41,189	33,190
16,986	12,536	Share investments	16	12,964	13,581
12,838	13,907	Advances	17	12,948	10,728
982	933	Inventory	18	964	826
1,492	1,425	Other assets	19	1,663	1,527
95,950	98,355	Property, plant & equipment	20	103,329	95,598
6,647	7,519	Equity accounted investments	21	8,065	7,001
1,555	1,772	Intangible assets and goodwill		1,751	1,677
184	690	Forecast for new capital spending		-	-
(200)	-	Top-down capital adjustment		-	-
187,311	191,045	Total assets		200,835	180,347
		Liabilities
3,730	3,704	Issued currency		3,530	3,444
9,036	8,423	Payables	22	10,895	8,077
845	1,046	Deferred revenue		1,292	966
46,364	45,546	Borrowings	23	46,110	41,898
19,011	20,752	Insurance liabilities	24	20,484	17,418
8,414	8,146	Retirement plan liabilities	25	8,257	7,161
3,850	4,045	Provisions	26	4,753	4,556
91,250	91,662	Total liabilities		95,321	83,520
96,061	99,383	Total assets less total liabilities		105,514	96,827
		Net Worth
48,239	46,767	Taxpayer funds		46,700	44,222
47,402	52,498	Property, plant and equipment revaluation reserve		58,566	52,442
127	(178)	Other reserves		(134)	(133)
95,768	99,087	Total net worth attributable to the Crown	27	105,132	96,531
293	296	Net worth attributable to minority interest in Air New Zealand		382	296
96,061	99,383	Total net worth		105,514	96,827

The accompanying Notes and Accounting Policies are an integral part of these Statements.

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