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Financial Statements
Analysis of exposure 2007 2006
6 months or less 19.00.580 19.00.580
6-1 months 19.00.580 19.00.580
1-5 years 8.601.159 77.0.18
77.202.319 115.803.478
Total exposure
b. Loans under ADA
According to article 1.4. of the ADA, if at any time between the airport opening and 1 December
007, Olympic Airways defaults in payment of any airport charges for a period in excess of 60 days, the
Company can request from the Greek State a subordinated and unsecured loan. Against the overdue
balance of Olympic Airways, the Company had applied in June 004 for advances of a subordinated loan
for an aggregate amount of € 1.87.06 representing the overdue charges in excess of 60 days for the
period 1 September 00 to 14 February 004.
The aforementioned loan is repayable within 10 days after the day, which Olympic Airways will effect any
payment against the billings of the relevant period or else on the date falling 10 years after the date on
which the relevant loan was extended.
The analysis of bank loans as at 1 December 007 is presented below:
Type of loan Provider Balance as at 31 December 2007 Interest rate
Short term Long term
EIB loan
1st Finance contract European 1.87.91 8.706.994 7,10%
1st Tranche Investment Bank .9.67 46.81.554 6,67%
1.65.467 0.55.678 5,58%
nd Tranche 1.99.9 51.8.14 6,0%
1.81.84 4.988.870 5,8%
rd Tranche 7.857.54 141.8.454 5,19%
15.86.68 98.595.799 6,4%
nd Finance contract
rd Finance contract
4th Finance contract
5th Finance contract
Commercial loan Consortium of
banks with leader
“Bayerische Hypo” 6.678.756 6.678.756 Euribor 6m+60bp
Und Vereinsbank 1.9.40 1.9.40 Euribor 6m+10bp
Cargo loan “Bayerische Hypo
Und Vereinsbank”
Subordinated loan Greek State 1.87.06 0 0%
under 13.4.3 102.824.104 861.483.722
of the ADA
Total loans
54
Analysis of exposure 2007 2006
6 months or less 19.00.580 19.00.580
6-1 months 19.00.580 19.00.580
1-5 years 8.601.159 77.0.18
77.202.319 115.803.478
Total exposure
b. Loans under ADA
According to article 1.4. of the ADA, if at any time between the airport opening and 1 December
007, Olympic Airways defaults in payment of any airport charges for a period in excess of 60 days, the
Company can request from the Greek State a subordinated and unsecured loan. Against the overdue
balance of Olympic Airways, the Company had applied in June 004 for advances of a subordinated loan
for an aggregate amount of € 1.87.06 representing the overdue charges in excess of 60 days for the
period 1 September 00 to 14 February 004.
The aforementioned loan is repayable within 10 days after the day, which Olympic Airways will effect any
payment against the billings of the relevant period or else on the date falling 10 years after the date on
which the relevant loan was extended.
The analysis of bank loans as at 1 December 007 is presented below:
Type of loan Provider Balance as at 31 December 2007 Interest rate
Short term Long term
EIB loan
1st Finance contract European 1.87.91 8.706.994 7,10%
1st Tranche Investment Bank .9.67 46.81.554 6,67%
1.65.467 0.55.678 5,58%
nd Tranche 1.99.9 51.8.14 6,0%
1.81.84 4.988.870 5,8%
rd Tranche 7.857.54 141.8.454 5,19%
15.86.68 98.595.799 6,4%
nd Finance contract
rd Finance contract
4th Finance contract
5th Finance contract
Commercial loan Consortium of
banks with leader
“Bayerische Hypo” 6.678.756 6.678.756 Euribor 6m+60bp
Und Vereinsbank 1.9.40 1.9.40 Euribor 6m+10bp
Cargo loan “Bayerische Hypo
Und Vereinsbank”
Subordinated loan Greek State 1.87.06 0 0%
under 13.4.3 102.824.104 861.483.722
of the ADA
Total loans
54
