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Fair value of collaterals held 2007 2006
Letter of Guarantees 8.897.84 4.491.149
Cash deposits .770.488 1.497.14
Mortgage on aircrafts 8.619.96 .50.685
80.288.285 79.491.977
Total fair value of collaterals held
The collaterals above have been received against the outstanding balance of all trade receivable accounts.
The credit quality of financial assets that are neither past due nor impaired can be assessed by reference
to information about counterparty secured amounts:
2007 2006
Group 1 – Fully secured 1.15. 15.79.65
Group – Partially secured 1.447.91 4.57.47
Group – Not secured 0 47.40
Total 14.601.135 20.325.095
• Trade Receivables & Accrued Income
As of 1 December 007, trade receivables of € 110.88.01 were impaired and adequatly provided for their
unscured amount. The amount of provision was € 58.744.605 as of 1 December 007. The individually
impaired receivables mainly relate to customers, which are in unexpectedly difficult economic situations.
It was assessed that a portion of the receivables is expected to be recovered.
Movements on the provision for impairment of trade receivables are as follows:
2007 2006
At 1 January 007 49.708.189 6.819.516
Provision for receivables impairment 9.06.416 1.888.67
At 31 December 2007 58.744.605 49.708.189
The creation and release of provision for impaired receivables have been included in “Impairment losses”
in the income statement. The other classes within trade receivables do not contain impaired assets. The
maximum exposure to credit risk at the reporting date is the value of total provision for impairment of
trade receivables.
e) Concentration Risk
The Company is exposed to concentration risk attributed to the concentration of the trade receivables
and cash balances.
In specific, the trade receivables are concentrated as follows:
Receivables analysis 2007 2006
Domestic airlines 110.407.457 101.674.09
Foreign airlines .914.55 4.655.699
Other customers 1.107.09 0.954.59
Total receivables 135.429.021 127.284.331
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Letter of Guarantees 8.897.84 4.491.149
Cash deposits .770.488 1.497.14
Mortgage on aircrafts 8.619.96 .50.685
80.288.285 79.491.977
Total fair value of collaterals held
The collaterals above have been received against the outstanding balance of all trade receivable accounts.
The credit quality of financial assets that are neither past due nor impaired can be assessed by reference
to information about counterparty secured amounts:
2007 2006
Group 1 – Fully secured 1.15. 15.79.65
Group – Partially secured 1.447.91 4.57.47
Group – Not secured 0 47.40
Total 14.601.135 20.325.095
• Trade Receivables & Accrued Income
As of 1 December 007, trade receivables of € 110.88.01 were impaired and adequatly provided for their
unscured amount. The amount of provision was € 58.744.605 as of 1 December 007. The individually
impaired receivables mainly relate to customers, which are in unexpectedly difficult economic situations.
It was assessed that a portion of the receivables is expected to be recovered.
Movements on the provision for impairment of trade receivables are as follows:
2007 2006
At 1 January 007 49.708.189 6.819.516
Provision for receivables impairment 9.06.416 1.888.67
At 31 December 2007 58.744.605 49.708.189
The creation and release of provision for impaired receivables have been included in “Impairment losses”
in the income statement. The other classes within trade receivables do not contain impaired assets. The
maximum exposure to credit risk at the reporting date is the value of total provision for impairment of
trade receivables.
e) Concentration Risk
The Company is exposed to concentration risk attributed to the concentration of the trade receivables
and cash balances.
In specific, the trade receivables are concentrated as follows:
Receivables analysis 2007 2006
Domestic airlines 110.407.457 101.674.09
Foreign airlines .914.55 4.655.699
Other customers 1.107.09 0.954.59
Total receivables 135.429.021 127.284.331
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