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FINANCIAL STATEMENTS
4.10 Intangible assets
An intangible asset is an identifiable non-monetary asset which has no physical substance held for use in the production
or supply of goods or services, for rental to others, or for administrative purposes.
Based on the Accounting Policies that have been adopted by the Company, the intangible assets consist of Service
Concession Arrangement, trademarks, licences and computer software (Refer further to 2.4).
The Service Concession Arrangement is the right that has been granted by the Greek State to the Company for the
purpose of the finance, construction, operation and development of the Athens International Airport. This intangible asset
comprises the fair value of acquiring the Service Concession and it has a useful life equal to the duration of the concession
arrangement following the completion of the construction phase. Amortisation is calculated using the straight-line
method to allocate the cost of the right over the duration of the Service Concession Arrangement which is approximately
25 years. Any subsequent costs incurred in maintaining the service ability of the infrastructure are expenses as incurred
unless such costs relate to major upgrades which increase the income generating ability of the infrastructure.
AIA has contractual obligations it must fulfil as a condition of its license (a) to maintain the infrastructure to a specified
level of serviceability or (b) to restore the infrastructure to a specified condition before it is handed over to the Greek
State at the end of the service arrangement, 11th of June 2026. Major overhaul for roads, runways, taxiways and airfield
lighting equipment was calculated based on current estimations as at €39.958.650 (2008: €39.958.650). For annual
provisions that concern these restoration expenses refer to note 4.24.
Trademarks and licences are shown at historical cost and have a finite useful life. Trademarks and licenses are carried
at cost less accumulated amortisation which is calculated using the straight-line method to allocate the cost over their
estimated useful lives.
Computer software licences are capitalised on the basis of the costs incurred to acquire and bring to use the specific
software and have a useful life of 3 to 4 years. Costs associated with developing or maintaining computer software
programmes are recognised as an expense as incurred. Costs that are directly associated with the development of
identifiable and unique software products controlled by the Company, and generate economic benefits, are recognised
as intangible assets.
Financial Statements as at 31 December 2009 (Amounts in Euros unless otherwise stated) PAGE 51 OF 69
4.10 Intangible assets
An intangible asset is an identifiable non-monetary asset which has no physical substance held for use in the production
or supply of goods or services, for rental to others, or for administrative purposes.
Based on the Accounting Policies that have been adopted by the Company, the intangible assets consist of Service
Concession Arrangement, trademarks, licences and computer software (Refer further to 2.4).
The Service Concession Arrangement is the right that has been granted by the Greek State to the Company for the
purpose of the finance, construction, operation and development of the Athens International Airport. This intangible asset
comprises the fair value of acquiring the Service Concession and it has a useful life equal to the duration of the concession
arrangement following the completion of the construction phase. Amortisation is calculated using the straight-line
method to allocate the cost of the right over the duration of the Service Concession Arrangement which is approximately
25 years. Any subsequent costs incurred in maintaining the service ability of the infrastructure are expenses as incurred
unless such costs relate to major upgrades which increase the income generating ability of the infrastructure.
AIA has contractual obligations it must fulfil as a condition of its license (a) to maintain the infrastructure to a specified
level of serviceability or (b) to restore the infrastructure to a specified condition before it is handed over to the Greek
State at the end of the service arrangement, 11th of June 2026. Major overhaul for roads, runways, taxiways and airfield
lighting equipment was calculated based on current estimations as at €39.958.650 (2008: €39.958.650). For annual
provisions that concern these restoration expenses refer to note 4.24.
Trademarks and licences are shown at historical cost and have a finite useful life. Trademarks and licenses are carried
at cost less accumulated amortisation which is calculated using the straight-line method to allocate the cost over their
estimated useful lives.
Computer software licences are capitalised on the basis of the costs incurred to acquire and bring to use the specific
software and have a useful life of 3 to 4 years. Costs associated with developing or maintaining computer software
programmes are recognised as an expense as incurred. Costs that are directly associated with the development of
identifiable and unique software products controlled by the Company, and generate economic benefits, are recognised
as intangible assets.
Financial Statements as at 31 December 2009 (Amounts in Euros unless otherwise stated) PAGE 51 OF 69
