27. Provisions
|
Litigation |
Tax risks |
Repair of leased aircraft before return |
Total provisions |
|
|---|---|---|---|---|
|
1 January 2012 |
6.4 |
2.2 |
- |
8.6 |
|
Additional provision for the year |
0.4 |
3.9 |
- |
4.3 |
|
Release of provision for the year |
(3.8) |
(2.2) |
- |
(6.0) |
|
Translation from the functional currency to the presentation currency |
0.3 |
0.2 |
- |
0.5 |
|
31 December 2012 |
3.3 |
4.1 |
- |
7.4 |
|
Additional provision for the year |
14.9 |
0.5 |
39.3 |
54.7 |
|
Release of provision for the year |
(0.4) |
(2.8) |
- |
(3.2) |
|
Unwinding of the discount |
- |
- |
17.6 |
17.6 |
|
Foreign exchange loss, net |
- |
- |
3.6 |
3.6 |
|
Translation from the functional currency to the presentation currency |
(0.5) |
(0.4) |
(1.7) |
(2.6) |
|
31 December 2013 |
17.3 |
1.4 |
58.8 |
77.5 |
|
31 December 2013 |
31 December 2012 |
|
|---|---|---|
|
Current liabilities |
26.9 |
4.4 |
|
Non-current liabilities |
50.6 |
3.0 |
|
Total provisions |
77.5 |
7.4 |
Litigation
The Group is a defendant in legal claims of a different nature. Provisions for liabilities represent management’s best estimate of probable losses on existing and potential lawsuits (Note 42).
Tax risks
The Group makes a provision for contingent liabilities and accrued fines and penalties based on the best management’s estimate of the amount of additional taxes that may be required to be paid (Note 42).
Repair of leased aircraft before return
As at 31 December 2013, the Group made a provision of USD 58.8 million for expenses needed to bring the aircraft to the required condition before their return at the end of the operating lease period.
Notes in Consolidated Statements:
Consolidated Statement of Financial Position
Consolidated Statement of Cash Flows
Back to list Top