Reclassification of results to reflect discontinued operations

On 19 June 2018 IAG announced it had entered sale agreements covering its consolidated operations in Thailand, Indonesia and Vietnam. IAG also advised that these businesses would be identified as discontinued operations, for accounting purposes.

This treatment is in accordance with the relevant accounting standard, AASB 5, which requires the contribution from operations subject to sale agreements to be identified as a single line item in the statement of comprehensive income and designated ‘discontinued operations’. The reclassification requirement also applies to the prior financial period.

Attached to this announcement is a reclassification of IAG’s results for the year ended 30 June 2017 (FY17) and the six months ended 31 December 2017 (1H18).

IAG’s interests in Malaysia and India will continue to be treated as associates, but will be reclassified from ‘Asia’ to ‘Corporate & Other’ within IAG’s segment reporting.

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