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Property, plant and equipment
12 Months Ended
Mar. 31, 2020
Property, plant and equipment  
Property, plant and equipment

2.           Property, plant and equipment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

Hangar and

    

Plant and

    

Fixtures and

    

Motor

    

 

 

 

Aircraft

 

Buildings

 

Equipment

 

Fittings

 

Vehicles

 

Total

 

 

€M

 

€M

 

€M

 

€M

 

€M

 

€M

Year ended March 31, 2020

 

  

 

  

 

  

 

  

 

  

 

  

Cost

 

  

 

  

 

  

 

  

 

  

 

  

At March 31, 2019

 

12,629.2

 

78.1

 

87.9

 

74.3

 

4.5

 

12,874.0

Additions in year

 

1,160.8

 

29.3

 

39.9

 

6.5

 

0.5

 

1,237.0

Disposals in year

 

(412.4)

 

 —

 

 —

 

(0.1)

 

 —

 

(412.5)

Transfer to assets held for sale

 

(98.7)

 

 —

 

 —

 

 —

 

 —

 

(98.7)

At March 31, 2020

 

13,278.9

 

107.4

 

127.8

 

80.7

 

5.0

 

13,599.8

Depreciation

 

  

 

  

 

  

 

  

 

  

 

  

At March 31, 2019

 

3,716.7

 

26.1

 

38.2

 

59.5

 

3.9

 

3,844.4

Charge for year

 

665.0

 

3.6

 

12.4

 

7.7

 

0.6

 

689.3

Eliminated on disposal

 

(371.8)

 

 —

 

 —

 

(0.1)

 

 —

 

(371.9)

At March 31, 2020

 

4,009.9

 

29.7

 

50.6

 

67.1

 

4.5

 

4,161.8

Net book value

 

  

 

  

 

  

 

  

 

  

 

  

At March 31, 2020

 

9,269.0

 

77.7

 

77.2

 

13.6

 

0.5

 

9,438.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

  

    

Hangar and

    

Plant and

    

Fixtures and

    

Motor

    

  

 

 

Aircraft

 

Buildings

 

Equipment

 

Fittings

 

Vehicles

 

Total

 

 

€M

 

€M

 

€M

 

€M

 

€M

 

€M

Year ended March 31, 2019

 

  

 

  

 

  

 

  

 

  

 

  

Cost

 

  

 

  

 

  

 

  

 

  

 

  

At March 31, 2018

 

11,303.5

 

82.7

 

40.7

 

62.7

 

4.3

 

11,493.9

Additions in year

 

1,485.2

 

2.4

 

47.2

 

11.7

 

0.2

 

1,546.7

Disposals in year

 

(159.5)

 

(7.0)

 

 —

 

(0.1)

 

 —

 

(166.6)

At March 31, 2019

 

12,629.2

 

78.1

 

87.9

 

74.3

 

4.5

 

12,874.0

Depreciation

 

  

 

  

 

  

 

  

 

  

 

  

At March 31, 2018

 

3,251.3

 

29.5

 

32.9

 

53.3

 

3.5

 

3,370.5

Charge for year

 

624.9

 

3.6

 

5.3

 

6.3

 

0.4

 

640.5

Eliminated on disposal

 

(159.5)

 

(7.0)

 

 —

 

(0.1)

 

 —

 

(166.6)

At March 31, 2019

 

3,716.7

 

26.1

 

38.2

 

59.5

 

3.9

 

3,844.4

Net book value

 

  

 

  

 

  

 

  

 

  

 

  

At March 31, 2019

 

8,912.5

 

52.0

 

49.7

 

14.8

 

0.6

 

9,029.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

    

Hangar and

    

Plant and

    

Fixtures and

    

Motor

    

 

 

 

Aircraft

 

Buildings

 

Equipment

 

Fittings

 

Vehicles

 

Total

 

 

€M

 

€M

 

€M

 

€M

 

€M

 

€M

Year ended March 31, 2018

 

  

 

  

 

  

 

  

 

  

 

  

Cost

 

  

 

  

 

  

 

  

 

  

 

  

At March 31, 2017

 

10,045.2

 

77.8

 

36.7

 

56.7

 

4.0

 

10,220.4

Additions in year

 

1,452.7

 

7.6

 

4.0

 

6.0

 

0.3

 

1,470.6

Disposals in year

 

(194.4)

 

(2.7)

 

 —

 

 —

 

 —

 

(197.1)

At March 31, 2018

 

11,303.5

 

82.7

 

40.7

 

62.7

 

4.3

 

11,493.9

Depreciation

 

  

 

  

 

  

 

  

 

  

 

  

At March 31, 2017

 

2,898.7

 

28.6

 

29.6

 

46.7

 

3.0

 

3,006.6

Charge for year

 

547.0

 

3.6

 

3.3

 

6.6

 

0.5

 

561.0

Eliminated on disposal

 

(194.4)

 

(2.7)

 

 —

 

 —

 

 —

 

(197.1)

At March 31, 2018

 

3,251.3

 

29.5

 

32.9

 

53.3

 

3.5

 

3,370.5

Net book value

 

  

 

  

 

  

 

  

 

  

 

  

At March 31, 2018

 

8,052.2

 

53.2

 

7.8

 

9.4

 

0.8

 

8,123.4

 

At March 31, 2020, aircraft with a net book value of €1,337m (2019: €2,395m; 2018: €2,935m) were mortgaged to lenders as security for loans. Under the security arrangements for the Company’s Ex-Im financed Boeing 737-800 “next generation” aircraft, the Company does not hold legal title to those aircraft while these loan amounts remain outstanding.

 

At March 31, 2020, the cost and net book value of aircraft included advance payments on aircraft of €1,329m (2019:  €711m; 2018:  €558m). Such amounts are not depreciated. The cost and net book value also includes capitalized aircraft maintenance, aircraft simulators and the stock of rotable spare parts.

 

The net book value of leased assets classified as property, plant and equipment (see note 3) at March 31, 2020, 2019 and 2018 was €132m,  €198m and €267m, respectively.

 

During the fiscal year 2020,  €nil (2019:  €nil; 2018:  €3m) of borrowing costs were capitalized as part of property, plant and equipment.  (Borrowing costs had been capitalized in prior years as follows: 2019: nil; 2018:  1.125%)