annual report 2009 - Aer Lingus

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70 Financial Statements Aer Lingus Group Plc – Annual Report 2009Notes to the Consolidated Financial Statements [continued]7 Other (gains)/losses – net2009 2008€’000 €’000Fair value losses on cross-currency interest rate swap 1,018 33Realised (gains)/losses on forward foreign currency contracts (31,365) 6,221Net foreign exchange losses/(gains) on operating activities 6,099 (15,050)(24,248) (8,796)8 Operating loss before net exceptional itemsThe operating loss before net exceptional items is stated after charging/(crediting):2009 2008€’000 €’000Depreciation on property, plant and equipment (Note 14)– owned 40,235 30,262– held under finance leases 37,054 39,296Amortisation of intangible assets (Note 15) 5,385 2,307Operating lease rentals payables– plant and machinery 85 77– aircraft 55,845 51,270– property 9,002 10,376Auditors’ remuneration– audit fee 190 200– non-audit related 500 446Directors’ emoluments* 2,355 1,707* Further information on Director’s emoluments is included in the Report of the Remuneration Committee on Directors’ Remunerationon pages 38 to 42.9 Net exceptional items2009 2008€’000 €’000Takeover defence costs (a) – 5,845Compensation under PCI (b) – 17,543Restructuring (c) 88,630 117,50088,630 140,888(a) Provision for costs incurred in the defence of takeover bids.(b) Costs incurred as a result of compensation due to staff under the Programme for Continuous Improvement.(c) Provision for 2009 Cost Reduction Programme and 2008 Early Retirement, Voluntary Severance and Migration Schemes.The 2009 charge consists of a provision for net redundancy payments of €51.9m and a provision for a deferred payment tostaff of €25.0m for the 2009 Cost Reduction Programme and a remeasurement of the 2008 restructuring charge of €11.7m.
Financial Statements Aer Lingus Group Plc – Annual Report 20097110 Finance income and expense2009 2008€’000 €’000Finance incomeInterest on cash and term deposits 30,690 54,798Interest income on loans and receivables 4,150 4,420Amortisation of available-for-sale reserve 2,060 1,64236,900 60,860Finance expenseOn bank loans and overdrafts – 57Finance lease interest 22,098 21,508Finance charge on discounted provision – 45322,098 22,01811 Employee benefitsThe average number of persons employed by the Group in the financial year was 3,844 (2008: 4,035) split as follows:2009 2008€’000 €’000Operations and administration 3,736 3,931Sales and marketing 108 1043,844 4,035Their associated payroll costs were as follows:2009 2008€’000 €’000Wages and salaries 247,142 279,763Social welfare costs 22,162 24,463Pension costs (Note 29) 24,882 29,339Other staff costs 17,960 –Share-based payments (Note 27) 46 735312,192 334,300
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annual report 2009
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Financial HighlightsFor the year en
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Chairman’s Statement Aer Lingus G
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Operating and Financial Review Aer
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Board of Directors Aer Lingus Group
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Corporate Social Responsibility Sta
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annual report 2009 - Aer Lingus

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