Aer Lingus 2014 Annual Report Download - page 139

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137
36 Financial commitments
(a) Capital commitments
At 31 December, the Group had capital commitments as follows:
2014
2013
€'000
€'000
Contracted for but not provided
- Aircraft and equipment
849,249
794,625
- Other
4,542
3,066
853,791
797,691
Included within capital commitments in respect of aircraft and equipment are unhedged amounts denominated in US dollars of US$820
million (2013: US$857 million). These have been translated at the appropriate rate of $1.22 (December 2013: $1.37).
(b) Lease commitments
At 31 December 2014, the Group had commitments, under non-cancellable operating leases, which fall due as follows:
Property
Aircraft
€'000
€'000
No later than one year
9,186
70,559
Later than one year but no later than five years
29,675
93,892
Later than five years
30,334
6,790
69,195
171,241
Included within aircraft lease commitments are amounts relating to the damp lease agreements executed during the period to 31 December
2014 in respect of Boeing 757 aircraft.
Three of the aircraft which the Group holds under operating leases are subleased to a third party. The termination of these subleases has been
confirmed for 26 September 2015. Minimum amounts receivable under the subleases are €16 million at 31 December 2014, of which the full
amount is due in less than 1 year.
At 31 December 2013, the Group had commitments, under non-cancellable operating leases, which fall due as follows:
Property
Aircraft
€'000
€'000
Not later than one year
8,191
55,526
Later than one year but no later than five years
29,760
118,857
Later than five years
38,340
1,586
76,291
175,969
37 Related party transactions
Key management compensation¹
2014
2013
€'000
€'000
Short-term employee benefits
5,882
5,306
Post employment benefits
612
530
Termination benefits
1,060
440
Share-based payments
766
1,727
8,320
8,003
¹ Key management compensation comprises all amounts in respect of Directors, Non Executive Directors and members of the executive
management team.
Of the total amount of key management compensation, €1,800,713 (2013: €1,097,115) was outstanding at 31 December 2014.
Amounts due to the Company from subsidiary undertakings are disclosed in Note 22.
Amounts which were transferred to the Company from a subsidiary undertaking are discussed in Note 34.