Aer Lingus 2009 Annual Report Download

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annual report 2009

Table of contents

  • Page 1
    annual report 2009

  • Page 2
    ... USA & EUROPE - CONNECT BETWEEN THE FOLLOWING CITIES VIA DUBLIN & SHANNON, NEW YORK, BOSTON & CHICAGO Agadir Helsinki Glasgow Edinburgh Glasgow Belfast Edinburgh Vilnius Durham TEES VALLEY Belfast Knock Shannon Cork Dublin Manchester Birmingham London Cardiff Bristol Jersey HEATHROW Dublin...

  • Page 3
    ... Statement Directors' Report Report of the Remuneration Committee on Directors' Remuneration Independent Auditor's Report Financial Statements Shareholder Information 38 43 45 90 13 26 Key financial statistics Passenger/ancillary revenue per RPK Unit cost, excluding fuel4 Unit cost, including fuel...

  • Page 4
    ... Group Plc - Annual Report 2009 Chairman's Statement The severity of the economic downturn in 2009 and its impact on air travel was unprecedented. Aer Lingus entered 2009 with too much capacity and several long haul routes that were no longer sustainable in the changed market environment. Fare...

  • Page 5
    Chairman's Statement Aer Lingus Group Plc - Annual Report 2009  our customers, providing a secure, vibrant and positive working environment for our employees and providing an attractive investment proposition for our shareholders. Market conditions remain difficult in 2010. However, while I am ...

  • Page 6
    ....1 million between 2008 and 2009, and will decrease by â,¬40 million (exit run rate of â,¬50 million) in 2010 as a result of 'Greenfield'. The Aer Lingus brand is loaded with positive values such as good value, Irish hospitality, customer care and professionalism and all employees are prepared to...

  • Page 7
    ... Executive Officer's Review Aer Lingus Group Plc - Annual Report 2009  weeks since its launch, the code share partnership with Aer Arann is already very successful. Customers from secondary markets are appreciating an improved connectivity to Dublin and Cork and also via Dublin to North American...

  • Page 8
    ... are in-ï¬,ight sales revenue, baggage fees, online booking fees, seat selection fees and passenger travel insurance. Passenger revenue Passenger revenue fell by 10.2% to â,¬1,166.6m for the year. An additional 381,000 passengers were carried compared to 2008. Average fare per passenger fell by 16...

  • Page 9
    Operating and Financial Review Aer Lingus Group Plc - Annual Report 2009  Aer Lingus was awarded 'Best Airline to Europe' at the Irish Travel Trade News Awards 2009. Pictured accepting the award are members of the Aer Lingus Sales Team (left to right): Alan Molloy, John Keogh, Fintan Lonergan and...

  • Page 10
    ... and Financial Review Aer Lingus Group Plc - Annual Report 2009 Tax charge There was a tax credit for the year of â,¬24.8m (2008: â,¬12.2m) arising from an increase in deferred tax assets due to losses incurred during the year and the remeasurement of existing corporation tax provisions. Fuel and...

  • Page 11
    ... Aer Lingus cabin crew Sinead Carroll and United Airlines Flight Attendant Kathleen Byrne. n Fuel: Volatility in fuel prices could have a material impact on the Group's operating results. n Taxes and Charges: The maintenance of the â,¬10 air travel tax introduced by the Irish Government in 2009...

  • Page 12
    ... international travel group listed on the London Stock Exchange and a member of the FTSE 100. Mr Mueller served as Executive Director, Aviation, at TUI Travel plc, where he managed a total of seven separate airlines, a ï¬,eet of 160 short-haul and long-haul aircraft and a team of 11,000 employees...

  • Page 13
    ... Directors Aer Lingus Group Plc - Annual Report 2009  Left to right: Ivor Fitzpatrick, Danuta Gray, Francis Hackett, Colin Hunt, Michael Johns, Thomas Moran, Nicola Shaw. his term in 2005) and as Executive Chairman of the Michael Smurfit Graduate School of Business at University College Dublin...

  • Page 14
    ... Team Aer Lingus Group Plc - Annual Report 2009 Executive Management Team (Left to right): Stephen Kavanagh, Chief Commercial Officer, Michael Grealy, Director of Human Resources and Organisational Change, Christoph Mueller, Chief Executive Officer, Andrew Macfarlane, Interim Chief Financial Of...

  • Page 15
    ... that year, Aer Lingus must have enough CO2 allowances (credits) for the fuel burned on ï¬,ights to, from and within EU countries in the year. Aer Lingus has three sources of allowances to account for its carbon emitted: free allocation allowances, allowances purchased on the open market and carbon...

  • Page 16
     Corporate Social Responsibility Statement Aer Lingus Group Plc - Annual Report 2009 On 27 May 1936, a six-seat De Havilland 84 Dragon biplane, EI-ABI named 'Iolar', Irish for 'Eagle', inaugurates the airline's first scheduled service from Dublin's Baldonnel airfield to Bristol. If actual ...

  • Page 17
    Corporate Social Responsibility Statement Aer Lingus Group Plc - Annual Report 2009  Daffodil Day - pictured: Jim O'Malley, Corporate Partnerships Manager of the Irish Cancer Society and Aer Lingus cabin crew. Monday 18 January 2010: UNICEF Ireland Ambassador, Ryan Tubridy became one of the fi...

  • Page 18
    ... Group Plc - Annual Report 2009 Aer Lingus ï¬,ies the Irish Soccer Team to Bari, Italy for the World Cup Qualifying Campaign in April 2009. Aer Lingus is subject to specific regulations in relation to local emissions of nitrogen oxides. All airports monitor the impact of airlines on local air...

  • Page 19
    Corporate Social Responsibility Statement Aer Lingus Group Plc - Annual Report 2009  Belfast Giants - pictured: (L-R) Belfast Giant, Craig Peacock, General Manager of the Giants, Todd Kelman, Aer Lingus cabin crew member, Lauren McGarrigle, Aer Lingus Corporate Affairs Director, Enda Corneille, ...

  • Page 20
    ... Statement Aer Lingus Group Plc - Annual Report 2009 practice. Non-hazardous waste from aircraft is also subject to controls and licensing. Aer Lingus continues to achieve reductions in catering waste due to the "buy on board" products whereby food is purchased based on individual passenger needs...

  • Page 21
    ... ongoing compliance with the Safety, Health and Welfare at Work Act 2005, as updated by General Applications Regulations 2007 and with all relevant safety regulations. Information and advice for customers on air travel and health is available on the Group's website, www.aerlingus.com, in the in...

  • Page 22
    ... its staff and the Group has a Safety Statement, based on all relevant legislation and regulations, which specifies how this should be implemented. Annual reviews are carried out to ensure compliance and system effectiveness. Aer Lingus Health and Safety personnel are members of a number of safety...

  • Page 23
    ... Statement Aer Lingus Group Plc - Annual Report 2009  School's Art Competition - pictured: St Colmcille's Primary School P6 class along with teacher, Mrs Logue, Aer Lingus cabin crew member, June Courtenage and Aer Lingus Business Development Manager, Andrea Hunter. Pictured at the departure...

  • Page 24
    ... Statement Aer Lingus Group Plc - Annual Report 2009 Aer Lingus sponsors the Deep RiverRock Belfast City Marathon 2009 - pictured, the Aer Lingus Marathon Team. Pictured at Dublin Airport: Aer Lingus customer service staff send Dustin the Turkey on his way to South Africa on a week-long fact...

  • Page 25
    ...encourages and supports staff involvement in charitable activities. Aer Lingus facilitates its employees in paying subscriptions and volunteering with Air Concern, a Dublin Airport based charity, which provides financial assistance to families in need in the community by working in partnership with...

  • Page 26
    ... the US authorities, investor relations, real-time arrival and departure times and in-ï¬,ight health and comfort advice. Customers can also sign-up to receive regular emails with special offers. During 2009 Aer Lingus introduced the Group Booking facility. Customers can now book a group of up to 25...

  • Page 27
    ... airports served by Aer Lingus. The Gold Circle Club has three tiers. Members of the top two tiers qualify to use partner airline airport lounges. Ethical The Aer Lingus Code of Business Conduct and Ethics aims to ensure the highest ethical standards in conducting business activities with customers...

  • Page 28
    ... with the financial statements of Aer Lingus Group plc and the Independent Auditors' report thereon, for the year ended 31 December 2009. Ryanair Limited Minister for Finance of Ireland Aer Lingus ESOP Trustee Limited Share held 159,231,025 134,109,026 66,577,980 % of issued share capital 29.82...

  • Page 29
    Directors' Report Aer Lingus Group Plc - Annual Report 2009  Mr Laurence Crowley was appointed to the Board on 9 January 2009. Mr Chris Wall ceased to be a Director on 5 March 2009 when the Company was informed by the Minister for Transport of Ireland that Mr Chris Wall's appointment as a "...

  • Page 30
    ... to keep proper books of account are the use of appropriate systems and procedures and employment of competent persons. The books of account are kept at Dublin Airport, Co Dublin, Ireland. Issue and purchase of own shares The Company received authority from shareholders at its last Annual General...

  • Page 31
    ...set out in the Initial Public Offering Prospectus. At times during 2009, at least half the Board, excluding the Chairman did not comprise non-executive Directors determined by the Board to be independent. Under the Company's Articles of Association, the maximum number of Directors is set at fifteen...

  • Page 32
    0 Directors' Report Aer Lingus Group Plc - Annual Report 2009 Directors' Report [continued] Board of Directors Role The duties of the Board and its committees are set out clearly in formal terms of reference which are reviewed regularly and state the items specifically reserved for decision by ...

  • Page 33
    Directors' Report Aer Lingus Group Plc - Annual Report 2009  The Minister for Transport of Ireland (acting through the Minister for Finance of Ireland in his capacity as shareholder) and the ESOT each have specific rights under the Company's Articles of Association in relation to the nomination...

  • Page 34
     Directors' Report Aer Lingus Group Plc - Annual Report 2009 Directors' Report [continued] Performance evaluation The Board and its committees undertake an annual evaluation of their performance of how well they are functioning as an effective board applying best principles of governance, ...

  • Page 35
    Directors' Report Aer Lingus Group Plc - Annual Report 2009  The committee has a process in place to ensure that the independence of the audit is not compromised, which includes monitoring the nature and extent of services provided by the external auditors through its annual review of fees paid ...

  • Page 36
    ...' Report Aer Lingus Group Plc - Annual Report 2009 Directors' Report [continued] Safety Committee The Board has a Safety Committee, which assists the Board in discharging its responsibility for safety, including ensuring that adequate safety regulations and procedures are in place across the Group...

  • Page 37
    Directors' Report Aer Lingus Group Plc - Annual Report 2009  In accordance with the process outlined above, the Board confirms that it has conducted an annual review of the effectiveness of the internal control systems in operation and that it has approved the reporting lines to ensure the ...

  • Page 38
    ... to question the Chairman and the Board. It is the Company's policy for all Directors to attend the AGM. The Notice of the AGM, which specifies the time, date, place and the business to be transacted, is sent to shareholders at least 20 working days before the meeting. At the meeting, resolutions...

  • Page 39
    Directors' Report Aer Lingus Group Plc - Annual Report 2009  For the purpose of Regulation 21 of EC (Takeover Bids (Directive 2004/25/EC)) Regulations 2006 (SI 255/2006), the information given under the following headings on page 71 (Employee Benefits), and 87 (Employee Participation and ...

  • Page 40
    ... Report Aer Lingus Group Plc - Annual Report 2009 Report of the Remuneration Committee on Directors' Remuneration Unaudited information The Remuneration Committee The Remuneration Committee of the Board comprises four independent non-executive Directors. Until January 2009 the Committee members...

  • Page 41
    Remuneration Committee Report Aer Lingus Group Plc - Annual Report 2009  Performance related bonuses Performance related bonuses are payable to executive Directors for meeting clearly defined and stretching annual profit targets and strategic goals set and monitored by the Remuneration ...

  • Page 42
    ... Report Aer Lingus Group Plc - Annual Report 2009 Report of the Remuneration Committee on Directors' Remuneration [continued] Audited information Table 2.1 Individual directors' remuneration for the year ended 31 December 2009 Basic salary and fees â,¬'000 Pension contribution â,¬'000 Payment...

  • Page 43
    ...Committee Report Aer Lingus Group Plc - Annual Report 2009  Table 2.2 Pension Increase in accrued benefit during 2009 â,¬'000 Transfer value of increase â,¬'000 Total accumulated accrued benefit at year-end â,¬'000 Executive directors Dermot Mannion 2 68 13 Table 2.3 Interest of Directors in...

  • Page 44
    ...Report Aer Lingus Group Plc - Annual Report 2009 Report of the Remuneration Committee on Directors' Remuneration [continued] Table 2.4 Share options As at 31 December 2009 and subject to achieving the closing market share prices (as set out in the third column below) for at least 25 of the 40 days...

  • Page 45
    ... of Aer Lingus Group plc for the year ended 31 December 2009 on pages 45 to 89 which comprise the consolidated income statement, the consolidated statement of comprehensive income, the consolidated and Company statements of financial position, the consolidated and Company statements of changes in...

  • Page 46
     Independent Auditors' Report Aer Lingus Group Plc - Annual Report 2009 Independent Auditors' Report [continued] Basis of audit opinion We concluded our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices Board. An audit includes ...

  • Page 47
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  Consolidated Income Statement Year ended 31 December Note 2009 â,¬'000 Revenue Operating expenses Staff costs, pre net exceptional items Depreciation and amortisation Aircraft operating lease costs Fuel and oil costs Maintenance ...

  • Page 48
     Financial Statements Aer Lingus Group Plc - Annual Report 2009 Consolidated Statement of Comprehensive Income Year ended 31 December Note 2009 â,¬'000 Loss for the period Other comprehensive income/(loss) Available-for-sale reserve - Fair value gains - Deferred tax on fair value gains - ...

  • Page 49
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  Consolidated Statement of Financial Position Note 31 December 2009 â,¬'000 31 December 20081 â,¬'000 1 January 20081 â,¬'000 Assets Non-current assets Property, plant and equipment Intangible assets Loans and receivables Derivative...

  • Page 50
     Financial Statements Aer Lingus Group Plc - Annual Report 2009 Company Statement of Financial Position As at 31 December Note 2009 â,¬'000 2008 â,¬'000 Assets Non-current assets Financial assets Current assets Trade and other receivables Total assets 34 807,722 917,418 810,650 920,346 33 109,...

  • Page 51
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  Consolidated Statement of Changes in Equity Note Called-up share capital â,¬'000 Share premium â,¬'000 Capital Capital conversion redemption reserve reserve fund fund â,¬'000 â,¬'000 Cash ï¬,ow hedging reserve â,¬'000 Availablefor-...

  • Page 52
    0 Financial Statements Aer Lingus Group Plc - Annual Report 2009 Company Statement of Changes in Equity Capital conversion reserve fund â,¬'000 5,048 - - 5,048 Capital redemption reserve fund â,¬'000 343,516 - - 343,516 Note Called up share capital â,¬'000 Share premium â,¬'000 502,108 (3) 4,...

  • Page 53
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  Consolidated Statement of Cash Flows Year ended 31 December Note 2009 â,¬'000 Cash ï¬,ows from operating activities Income tax (paid)/received Net cash used in operations Cash ï¬,ows from investing activities Purchases of property, ...

  • Page 54
    ... Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Financial Statements 1 General information Aer Lingus Group plc (the "Company") and its subsidiaries (together the "Group") operates as an Irish airline primarily providing passenger and cargo transportation services from Ireland...

  • Page 55
    ... credits are redeemed. The Group maintains a loyalty points programme, the Gold Circle Club, which allows customers to accumulate points when they purchase ï¬,ights. The points can then be redeemed for free ï¬,ights, products and services with Aer Lingus and its partners, subject to a minimum number...

  • Page 56
     Financial Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 2 Summary of significant accounting policies [continued] IFRS 2 (Amendment) Vesting Conditions and Cancellations The amendment deals with vesting conditions and ...

  • Page 57
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  2 Summary of significant accounting policies [continued] n Improvements to IFRSs (April 2009) - IFRS 2 Share-based Payments (effective 1 July 2009) - IFRS 5 Non-current Assets Held for Sale and Discontinued Operations (effective 1...

  • Page 58
     Financial Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 2 2.5 Summary of significant accounting policies [continued] Property, plant and equipment All property, plant and equipment is stated at cost or deemed cost less ...

  • Page 59
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  2 2.8 Summary of significant accounting policies [continued] Financial assets 2.8.1 Classification The Group classifies its financial assets in the following categories: loans and receivables, held to maturity investments and ...

  • Page 60
     Financial Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 2 2.9 Summary of significant accounting policies [continued] Offsetting financial instruments Financial assets and liabilities are offset and the net amount reported in ...

  • Page 61
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  2 Summary of significant accounting policies [continued] 2.11 Derivative financial instruments and hedging activities Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are ...

  • Page 62
    0 Financial Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 2 Summary of significant accounting policies [continued] 2.12 Inventories Inventories are stated at the lower of cost and net realisable value. Cost is determined using ...

  • Page 63
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  2 Summary of significant accounting policies [continued] 2.17 Borrowings Borrowings are recognised initially at fair value, net of transaction costs incurred. Borrowings are subsequently carried at amortised cost. Any difference ...

  • Page 64
     Financial Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 2 Summary of significant accounting policies [continued] For defined contribution schemes, the Group pays contributions into the pension schemes in accordance with the ...

  • Page 65
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  2 Summary of significant accounting policies [continued] 2.22 Revenue recognition The Group recognises revenue when the amount of revenue can be reliably measured, it is probable that the future economic benefits will ï¬,ow to ...

  • Page 66
    ... Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 3 3.1 Financial risk management Financial risk factors The Group's activities expose it to a variety of financial risks: market risk (including currency risk, cash ï¬,ow interest rate...

  • Page 67
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  3 Financial risk management [continued] (iii) Commodity price risk The Group's fuel requirements expose the Group to the market volatility of jet fuel prices. The Group is subject to jet fuel price risk resulting from its operating...

  • Page 68
     Financial Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 3 Financial risk management [continued] The table below analyses the Group's financial liabilities into relevant maturity groupings based on the remaining period at the ...

  • Page 69
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  3 3.2 Financial risk management [continued] Financial risk factors The Group's objectives when managing capital are to safeguard the Group's ability to continue as a going concern in order to provide returns for shareholders and ...

  • Page 70
     Financial Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 4 Critical accounting estimates and judgements The Group believes that of its significant accounting policies and estimates, the following may involve a higher degree of ...

  • Page 71
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  5 Segment information [...customers, attributable to Ireland, the Group's country of domicile, amounted to â,¬723.5m (2008: â,¬840.1m) and revenues from external customers, attributed to foreign countries in total from which the Group...

  • Page 72
    ... Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 7 Other (gains)/losses - net 2009 â,¬'000 Fair value losses on cross-currency interest rate swap Realised (gains)/losses on forward foreign currency contracts Net foreign exchange...

  • Page 73
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  10 Finance income and expense 2009 â,¬'000 Finance income Interest on cash and term deposits Interest income on loans and receivables Amortisation of available-for-sale reserve 30,690 4,150 2,060 36,900 Finance expense On bank ...

  • Page 74
     Financial Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 12 Income tax (i) Income tax credit recognised in the income statement 2009 â,¬'000 Current taxation Irish corporation tax Remeasurement of income tax provisions - 12,796 ...

  • Page 75
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  14 Property, plant and equipment Flight equipment â,¬'000 Cost At 1 January 2008 Additions Disposals Transfer to intangible assets At 31 December 2008 Accumulated depreciation At 1 January 2008 Depreciation charge for the period ...

  • Page 76
    ... expense of â,¬5.4m (2008: â,¬2.3m) has been charged in 'depreciation and amortisation' in the income statement. 16 Group undertakings Aer Lingus Group plc is a company incorporated under the Irish Companies Acts, 1963 to 2009. Its head office is at Dublin Airport, Co Dublin, Ireland. It is the...

  • Page 77
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  17 Loans and receivables Following amendments to IAS 39 Financial Instruments: Recognition and Measurement and IFRS 7 Financial Instruments: Disclosures the Group reclassified as loans and receivables, all the financial assets ...

  • Page 78
    ... Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 17 Loans and receivables [continued] Financial assets with a fair value of â,¬100.7m were reclassified during 2008, with the fair value at that date becoming the assets' new carrying...

  • Page 79
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  18 Derivative financial instruments [continued] Foreign exchange contracts The notional principal amounts of the outstanding forward foreign exchange contracts at 31 December 2009 were â,¬975.0m (2008: â,¬1,251.1m). Cross-currency...

  • Page 80
    ...Financial Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 20 Trade and other receivables [continued] At 31 December 2009, trade and other receivables of â,¬4.7m (2008: â,¬3.4m) were past due but not impaired. They relate to a number...

  • Page 81
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  21 Gross cash, deposits and cash and cash equivalents [continued] Cash and cash equivalents include the following for the purposes of the statement of cash ï¬,ows: 2009 â,¬'000 Cash and deposits with an original maturity of less ...

  • Page 82
    0 Financial Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 23 Finance lease obligations 2009 â,¬'000 Repayable - within one year - from one to two years - from two to five years - after five years 48,247 47,969 142,639 253,766 ...

  • Page 83
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  23 Finance lease obligations [continued] Finance lease obligation - minimum lease payments 2009 â,¬'000 No later than one year Later than one year but no later than five years Later than five years 70,952 265,190 278,987 615,129 ...

  • Page 84
     Financial Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 24 Provisions for liabilities and charges [continued] (a) Business repositioning A provision for business repositioning costs is recognised when a constructive obligation ...

  • Page 85
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  25 Deferred tax [continued] The movement in deferred tax assets and liabilities during the period, without taking into consideration the offsetting of balances within the ...

  • Page 86
    ... Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 26 Called-up share capital 2009 â,¬'000 Authorised 900,000,000 ordinary shares of â,¬0.05 each Issued and fully paid At 1 January Issued during the period: 5,690,969 @ â,¬0.05 (2008...

  • Page 87
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  27 Share premium, capital conversion reserve fund and other reserves [continued] 2009 â,¬'000 Other reserves Cash ï¬,ow hedging reserve At 1 January Movement in the period Deferred tax on movement in the period At 31 December ...

  • Page 88
     Financial Statements Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 27 Share premium, capital conversion reserve fund and other reserves [continued] Shares awarded under the Group's LTIP are equity settled share-based payments as defined ...

  • Page 89
    ... review was carried out at 31 March 2009. The Group's contributions charged for the year were â,¬24.9m (2008: â,¬29.3m), based on rates specified by the schemes' rules. The actuarial reports are not available for public inspection. At the time of the IPO, the Group reached agreement with the trade...

  • Page 90
    ... Aer Lingus Group Plc - Annual Report 2009 Notes to the Consolidated Financial Statements [continued] 30 Financial commitments (a) Capital commitments At 31 December the Group had capital commitments as follows: 2009 â,¬'000 Contracted for but not provided - Aircraft and equipment - Other 2008...

  • Page 91
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  32 Cash used in operations 2009 â,¬'000 Loss before tax Adjustments for: - Depreciation and amortisation - Net movements in provisions for liabilities and charges - Net fair value losses on derivative financial instruments - Share...

  • Page 92
    0 Financial Statements Aer Lingus Group Plc - Annual Report 2009 Shareholder Information 2010 financial calendar Annual General Meeting 2010 H1 period ends 2010 H1 results 2010 FY ends 18 June 2010 30 June 2010 August 2010 31 December 2010 Share price data â,¬ Share price movement during 2009 -...

  • Page 93
    Financial Statements Aer Lingus Group Plc - Annual Report 2009  Website The Group's website, www.aerlingus.com, contains a separate Investor Relations section. This provides the full text of the Annual and Interim Reports and copies of presentations to analysts and investors. News releases are ...

  • Page 94
     Financial Statements Aer Lingus Group Plc - Annual Report 2009 Operating and Financial Statistics For the year ended 31 December 2009 2009 Long haul Number of routes ï¬,own Number of sectors ï¬,own (ï¬,ights) Average sector length (in kilometres) Number of passengers (in thousands) Average fare...

  • Page 95

  • Page 96