EasyJet 2011 Annual Report Download - page 84

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Notes to the accounts
Continued
8 Property, plant and equipment
Aircraft and
spares
£ million
Leasehold
improvements
£ million
Other
£ million
Total
£ million
Cost
At 1 October 2010 2,129 13 29 2,171
Additions 519 – 9 528
Aircraft sold and leased back (228) – – (228)
Transfer to intangible assets – – (6) (6)
Disposals (10) (5) (13) (28)
At 30 September 2011 2,410 8 19 2,437
Depreciation
At 1 October 2010 216 8 19 243
Charge for the year 80 1 2 83
Aircraft sold and leased back (20) – – (20)
Disposals – (5) (13) (18)
At 30 September 2011 276 4 8 288
Net book value
At 30 September 2011 2,134 4 11 2,149
At 1 October 2010 1,913 5 10 1,928
Aircraft and
spares
£ million
Leasehold
improvements
£ million
Other
£ million
Total
£ million
Cost
At 1 October 2009 1,747 13 30 1,790
Additions 442 – 10 452
Aircraft sold and leased back (52) – – (52)
Transfer to intangible assets – – (10) (10)
Disposals (8) – (1) (9)
At 30 September 2010 2,129 13 29 2,171
Depreciation
At 1 October 2009 154 7 17 178
Charge for the year 68 1 3 72
Disposals (6) – (1) (7)
At 30 September 2010 216 8 19 243
Net book value
At 30 September 2010 1,913 5 10 1,928
At 1 October 2009 1,593 6 13 1,612
The net book value of aircraft includes £164 million (2010: £153 million) relating to advance and option payments
for future deliveries. This amount is not depreciated.
Aircraft with a net book value of £1,206 million (2010: £1,108 million) were mortgaged to lenders as loan security.
Aircraft with a net book value of £159 million (2010: £105 million) are held under finance leases.
easyJet is contractually committed to the acquisition of 37 (2010: 47) Airbus A320 family aircraft, with a total
list price of US$ 1.9 billion (2010: US$2.2 billion) before escalations and discounts for delivery in the period to
March 2014.
82
easyJet plc
Annual report
and accounts 2011