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4.12 Other non-current assets
Other non-current assets are analysed as follows:
Analysis of other non-current assets 2008 2007
Blocked deposits 0 56.767.920
Available for sale financial asset 1.450.783 1.795.482
Long term guarantees 149.628 143.548
Total other non current assets 1.600.411 58.706.950
The Blocked Deposits amounted to €56.767.920 at 31 December 2007, were released in 2008, in order to
partially finance the full repayment of the Commercial and Cargo Loan Agreements (refer to note 4.22)
The Company’s 17% equity interest in “Athens Airport Fuel Pipeline” has been classified as an available
for sale financial asset. This asset is measured at its fair value at the balance sheet date. Any fair value
gain (net of tax) is recognized directly in equity. In 2008, a net fair value loss of €248.476 was recognized
directly within equity.
Long-term guarantees relate to guarantees given to lessors for operating lease contracts, and were measured
at their present value, by discounting future cash flow transactions with the weighted average borrowing
rate of the Company.
4.13 Inventories
Inventory items are analysed as follows:
Analysis of inventories per category 2008 2007
Merchandise 557.638 487.423
Consumables 771.103 341.347
Spare parts 4.905.192 5.318.800
Inventory impairment (519.531) (627.688)
Total inventories 5.714.402 5.519.882
Inventories consist of merchandise, consumables and spare parts and have been valued at the lower of
cost and net realizable value. Cost is determined by using the weighted average method, which has been
consistently applied since the establishment of the Company. During 2008, a release for impairment loss of
€27.349 was recognized in the income statement in order to reduce the accumulated provision for certain
obsolete and slow moving items to €519.531 which is their estimated net realizable value.
Financial Statements as at 31 December 2008 (Amounts in Euros unless otherwise stated)
4.12 Other non-current assets
Other non-current assets are analysed as follows:
Analysis of other non-current assets 2008 2007
Blocked deposits 0 56.767.920
Available for sale financial asset 1.450.783 1.795.482
Long term guarantees 149.628 143.548
Total other non current assets 1.600.411 58.706.950
The Blocked Deposits amounted to €56.767.920 at 31 December 2007, were released in 2008, in order to
partially finance the full repayment of the Commercial and Cargo Loan Agreements (refer to note 4.22)
The Company’s 17% equity interest in “Athens Airport Fuel Pipeline” has been classified as an available
for sale financial asset. This asset is measured at its fair value at the balance sheet date. Any fair value
gain (net of tax) is recognized directly in equity. In 2008, a net fair value loss of €248.476 was recognized
directly within equity.
Long-term guarantees relate to guarantees given to lessors for operating lease contracts, and were measured
at their present value, by discounting future cash flow transactions with the weighted average borrowing
rate of the Company.
4.13 Inventories
Inventory items are analysed as follows:
Analysis of inventories per category 2008 2007
Merchandise 557.638 487.423
Consumables 771.103 341.347
Spare parts 4.905.192 5.318.800
Inventory impairment (519.531) (627.688)
Total inventories 5.714.402 5.519.882
Inventories consist of merchandise, consumables and spare parts and have been valued at the lower of
cost and net realizable value. Cost is determined by using the weighted average method, which has been
consistently applied since the establishment of the Company. During 2008, a release for impairment loss of
€27.349 was recognized in the income statement in order to reduce the accumulated provision for certain
obsolete and slow moving items to €519.531 which is their estimated net realizable value.
Financial Statements as at 31 December 2008 (Amounts in Euros unless otherwise stated)
