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FINANCIAL STATEMENTS
4.24 Provisions
Analysis of provisions
Description As at Additions Utilisations Releases As at
31 Dec 2009
1 Jan 2009
Compensation for employees 0 773.219 0 0 773.219
food service facilities
Other 35.000 211.386 (5.072) 0 241.314
To be settled within 1 year 35.000 984.605 (5.072) 0 1.014.533
Claims on airport charges 8.738.059 1.247.174 0 0 9.985.233
Municipal tax 917.514 0 0 (917.514) 0
Restoration Expenses 6.657.005 2.101.592 (359.687) 0 8.398.910
Other 534.246 25.220 0 0 559.467
To be settled over 1 year 16.846.825 3.373.986 (359.687) (917.514) 18.943.610
Total provisions 16.881.825 4.358.591 (364.759) (917.514) 19.958.143
Compensation for employee food service facilities: The provision relates to Company’s contractual obligation to
compensate the contractor of employee food service facilities at the end of the term of the existing agreement. The cost of
the compensation concerns the fixed investment of the contractor and has been valued by an independent estimator.
Claims on airport charges: The provision relates to the interim legal measures taken by airport users in the First Instance
Court with respect to the legality of the pricing of certain airport charges. Despite the initial favourable outcome by the
First Instance Court, management believes that there are risks and uncertainties associated with this matter that warrant
continuing provisioning until a final legal resolution is reached. The recorded provision represents management’s best
estimate of the Company’s exposure. The timing of the eventual settlement of this risk is uncertain and substantially
depends on the timing and progress of the legal proceedings.
Municipal tax: The provision released in 2009 as there was a final legal decision that was in favour of the Company.
Restoration expenses: The provision relates to the future expenses that result from the Company’s contractual obligations
to maintain or restore the infrastructure. It is expected that an aggregate amount of €40 million will be spent on major
restoration activities commencing in year 2017 through to 2023 based on management’s current best estimates.
Financial Statements as at 31 December 2009 (Amounts in Euros unless otherwise stated) PAGE 61 OF 69
4.24 Provisions
Analysis of provisions
Description As at Additions Utilisations Releases As at
31 Dec 2009
1 Jan 2009
Compensation for employees 0 773.219 0 0 773.219
food service facilities
Other 35.000 211.386 (5.072) 0 241.314
To be settled within 1 year 35.000 984.605 (5.072) 0 1.014.533
Claims on airport charges 8.738.059 1.247.174 0 0 9.985.233
Municipal tax 917.514 0 0 (917.514) 0
Restoration Expenses 6.657.005 2.101.592 (359.687) 0 8.398.910
Other 534.246 25.220 0 0 559.467
To be settled over 1 year 16.846.825 3.373.986 (359.687) (917.514) 18.943.610
Total provisions 16.881.825 4.358.591 (364.759) (917.514) 19.958.143
Compensation for employee food service facilities: The provision relates to Company’s contractual obligation to
compensate the contractor of employee food service facilities at the end of the term of the existing agreement. The cost of
the compensation concerns the fixed investment of the contractor and has been valued by an independent estimator.
Claims on airport charges: The provision relates to the interim legal measures taken by airport users in the First Instance
Court with respect to the legality of the pricing of certain airport charges. Despite the initial favourable outcome by the
First Instance Court, management believes that there are risks and uncertainties associated with this matter that warrant
continuing provisioning until a final legal resolution is reached. The recorded provision represents management’s best
estimate of the Company’s exposure. The timing of the eventual settlement of this risk is uncertain and substantially
depends on the timing and progress of the legal proceedings.
Municipal tax: The provision released in 2009 as there was a final legal decision that was in favour of the Company.
Restoration expenses: The provision relates to the future expenses that result from the Company’s contractual obligations
to maintain or restore the infrastructure. It is expected that an aggregate amount of €40 million will be spent on major
restoration activities commencing in year 2017 through to 2023 based on management’s current best estimates.
Financial Statements as at 31 December 2009 (Amounts in Euros unless otherwise stated) PAGE 61 OF 69
