QF said that have provisioned costs in case they lose. Does anyone know how much they set aside?
Been looking for that. Interesting. The following are selected extracts and by no means authoritative WRT the issue of provisions made.
2021 AR
P117:
(D) LITIGATION From time to time Qantas is subject to claims and litigation during the normal course of business. The Directors have given consideration to such matters, which are or may be subject to litigation at year end and, subject to specific provisions raised, are of the opinion that no material contingent liability exists.
Notes on accounting policies relating to Provisions:
Legal and other provisions: These are recognised where they are incurred as a result of a past event, there is a legal or constructive obligation that can be measured reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation.
2022 AR
P115:
34 CONTINGENT LIABILITIES Details of contingent liabilities are set out below. The Directors are of the opinion that provisions are not required with respect to these matters, as it is not probable that a future outflow of economic benefits will be required or that the amount is not capable of reliable measurement.
(B) LITIGATION From time to time Qantas is subject to claims and litigation during the normal course of business. The Directors have given consideration to such matters, which are or may be subject to litigation at year end and, subject to specific provisions raised, are of the opinion that no material contingent liability exists.
Repeats much the same as D) above
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I would have thought potential to lose a court case would be a contingent event?