Estimate $m

Actual $m

Variance $m

Variance Factor

Explanation

FMS

The total variance is primarily due to the non achievement of two milestones associated with the acceptance of MRH aircraft #12 and #13. These aircraft were not accepted due to the suspension of flying operations following the engine failure in Apr 10. Acceptance of these aircraft will occur only following resumption of flying operations. The remaining variance is due to foreign exchange gains on payments made within the financial year

Overseas Industry

(19.1)

Local Industry

Brought Forward

Cost Savings

(4.9)

FOREX Variation

Commonwealth Delays

475.4

451.4

(24.0)

Total Variance