Singapore Airlines 2016 Annual Report Download - page 160
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Notes to the Financial Statements
31 March 2016
20 Provisions (in $ million)
Included are provisions for warranty claims, upgrade costs, return costs for leased aircra, lease end liability and onerous leases. It is expected
that the return costs will be incurred by the end of the lease terms.
An analysis of the provisions is as follows:
The Group
Return costs for
leased aircraft
Onerous
leases Others Total
Balance at 1 April 2014 658.4 – 31.4 689.8
Acquisition of a subsidiary company 118.0 133.1 – 251.1
Provision during the year 321.8 6.5 20.0 348.3
Provision utilised during the year (91.4) (51.6) (8.4) (151.4)
Balance at 31 March 2015 1,006.8 88.0 43.0 1,137.8
Current 151.5 17.8 9.6 178.9
Non-current 855.3 70.2 33.4 958.9
1,006.8 88.0 43.0 1,137.8
Balance at 1 April 2015 1,006.8 88.0 43.0 1,137.8
Provision during the year 244.6 9.6 22.6 276.8
Provision written back during the year (48.7) (35.1) – (83.8)
Provision utilised during the year (155.6) (20.6) (14.4) (190.6)
Reclassification (44.6) – – (44.6)
Balance at 31 March 2016 1,002.5 41.9 51.2 1,095.6
Current 195.1 13.2 10.2 218.5
Non-current 807.4 28.7 41.0 877.1
1,002.5 41.9 51.2 1,095.6
Singapore Airlines158
FINANCIAL