Singapore Airlines 2015 Annual Report Download - page 143
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5 Sta Costs (in $ million) (continued)
Share-based compensation expense (continued)
Share-based incentive plans (continued)
Deferred RSP/RSP 2014 Awards (“DSA”) (continued)
Movement of deferred RSP/RSP 2014 awards during the financial year
Number of Deferred RSP/RSP 2014 Awards
Date of grant
Balance at
1.4.2014/
date of grant Modification^
Balance at
31.3.2015
DSA
04.09.2013 150,820 3,737 154,557
28.08.2014 73,470 – 73,470
224,290 3,737 228,027
The number of deferred RSP/RSP 2014 awards granted but not released as at 31 March 2015 was 228,027 (2014: 150,820).
^ Following approval by the Company’s shareholders of the declaration of a special dividend of $0.25 per share on 30 July 2014, the Board
Compensation and Industrial Relations Committee approved an increase in all restricted shares outstanding on 14 August 2014 under the DSA.
6 Operating Profit (in $ million)
Operating profit for the financial year was arrived at aer charging/(crediting):
The Group
FY2014/15 FY2013/14
Compensation for changes in aircraft delivery slots (65.8) (125.8)
Interest income from short-term investments (0.8) (0.7)
Dividend income from short-term investments (0.9) (0.9)
Income from operating lease of aircraft (24.8) (73.3)
Amortisation of deferred gain on sale and operating leaseback transactions (5.7) (12.6)
Surplus on disposal of short-term investments (3.9) (0.6)
Bad debts written off 6.3 0.4
Impairment of trade debtors 0.7 1.1
Remuneration for auditors of the Company
Audit fees 1.7 1.6
Non-audit fees 0.7 0.7
Exchange loss, net 113.1 74.5
Currency hedging gain (35.1) (50.5)
Fuel hedging loss/(gain) recognised in “Fuel costs” 562.5 (74.2)
Ineffectiveness of fuel hedging contracts recognised in “Fuel Costs” 13.1 (13.2)
Singapore Airlines | Annual Report FY2014/15 |141