Aer Lingus 2008 Annual Report Download - page 72

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AER LINGUS GROUP PLC - ANNUAL REPORT 2008
70
10 Intangible assets
Computer software
2008 2007
€’000 €’000
Cost
Beginning of year 44,049 40,086
Additions 5,619 4,294
Disposals (15,415) (331)
Transfer from property, plant and equipment 10,301 -
End of year 44,554 44,049
Aggregate amortisation
Beginning of year 40,252 34,948
Charge for the year 2,307 5,635
Disposals (15,415) (331)
Transfer from property, plant and equipment 10,301 -
End of year 37,445 40,252
Net book value
End of year 7,109 3,797
Beginning of year 3,797 5,138
The amortisation expense of €2.3m (2007: €5.6m) has been charged in ‘Depreciation and amortisation’ in the income
statement.
11 Group undertakings
Aer Lingus Group plc is a company incorporated under the Irish Companies Acts, 1963 to 2006. Its head office is at Dublin
Airport, Co Dublin, Ireland. It is the ultimate parent company in the Aer Lingus group.
The principal group companies are Aer Lingus Limited and Aer Lingus Beachey Limited, both of which are wholly owned. Aer
Lingus Limited is incorporated in Ireland and is the principal operating company. Aer Lingus Beachey Limited is incorporated in
the Isle of Man and its principal activity is aircraft financing. Full details of all group companies will be filed with the Company’s
annual return, which is available from the Companies Registration Office, Dublin 1. In addition, the Group trades through a
number of overseas branches. ALG Trustees Limited was retained in 2007 to manage the Group’s Long Term Incentive Plan
(LTIP). The Group consolidates ALG Trustees Limited in the Group accounts.
In October 2007, the Group disposed of its residual 20% shareholding in Futura, a Spanish registered company. This holding
had not been treated as an associated undertaking as, in the view of the Directors, the Group was unable to exercise significant
influence over the operations of this entity, due to the existence of a majority shareholder. The Group’s investment in Futura had
a fair value of zero at 31 December 2006.
During 2008, three group companies (Seres Limited, Duneast Limited and Crodley Limited) were put into liquidation and
dissolved. All of these companies were dormant.
Aer Lingus Group plc has guaranteed the liabilities of its subsidiary undertakings for the purposes of Section 17 of the
Companies (Amendment) Act, 1986.
Notes to the Consolidated Financial Statements
continued