Aer Lingus 2008 Annual Report Download - page 68

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AER LINGUS GROUP PLC - ANNUAL REPORT 2008
66
2 Other (gains)/losses, net
2008 2007
€’000 €’000
- Losses on foreign exchange options and forward contracts incurred - 209
- Fair value losses/(gains) on cross currency interest rate swaps 33 (712)
33 (503)
Net foreign exchange losses/(gains) on operating activities (8,829) 9,383
(8,796) 8,880
3 Operating (loss)/profit before net exceptional items
The operating (loss)/profit before net exceptional items is stated after charging/(crediting):
2008 2007
€’000 €’000
Depreciation of property, plant and equipment (Note 9)
- owned 30,262 36,256
- held under finance leases 39,296 27,408
Amortisation of intangible assets (Note 10) 2,307 5,635
Operating lease rentals payable
- plant and machinery 77 83
- aircraft 51,270 50,552
- property 10,376 8,088
Auditors’ remuneration
- audit fee 200 196
- non-audit related 446 458
Directors’ emoluments* 1,707 2,205
*Further information on Directors’ emoluments is included in the Report of the Remuneration Committee on Directors’
Remuneration on pages 33 to 35.
4 Net exceptional items
2008 2007
€’000 €’000
Profit on disposal of investment (a) - 11,374
Takeover defence costs (b) (5,845) (7,857)
Compensation under PCI (c) (17,543) -
Restructuring (d) (117,500) -
(140,888) 3,517
(a) Profit on disposal of investment in Futura (see Note 11)
(b) Charge for costs incurred in the defence of takeover bid
(c) Costs incurred as a result of compensation due to staff under the Programme for Continuous Improvement
(d) Cost of restructuring programme for early retirement, voluntary severance and migration schemes
Notes to the Consolidated Financial Statements
continued