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v3.21.2

Property, plant and equipment | 12 Months Ended
--- | ---
Mar. 31, 2021
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, 2021 |  |  |  |  |  |  |  |  |  |  |  |
Cost |  |  |  |  |  |  |  |  |  |  |  |
At March 31, 2020 |  | 13,278.9 |  | 107.4 |  | 127.8 |  | 80.7 |  | 5.0 |  | 13,599.8
Additions in year |  | 274.4 |  | 16.7 |  | 4.1 |  | 4.5 |  | 0.3 |  | 300.0
Supplier Reimbursements* |  | (377.6) |  | — |  | — |  | — |  | — |  | (377.6)
Contractual amendments* |  | (496.9) |  | — |  | — |  | — |  | — |  | (496.9)
Disposals in year |  | (83.7) |  | — |  | — |  | — |  | — |  | (83.7)
At March 31, 2021 |  | 12,595.1 |  | 124.1 |  | 131.9 |  | 85.2 |  | 5.3 |  | 12,941.6
Depreciation |  |  |  |  |  |  |  |  |  |  |  |
At March 31, 2020 |  | 4,009.9 |  | 29.7 |  | 50.6 |  | 67.1 |  | 4.5 |  | 4,161.8
Charge for year |  | 476.0 |  | 4.3 |  | 14.3 |  | 7.4 |  | 0.4 |  | 502.4
Eliminated on disposal |  | (83.7) |  | — |  | — |  | — |  | — |  | (83.7)
At March 31, 2021 |  | 4,402.2 |  | 34.0 |  | 64.9 |  | 74.5 |  | 4.9 |  | 4,580.5
Net book value |  |  |  |  |  |  |  |  |  |  |  |
At March 31, 2021 |  | 8,192.9 |  | 90.1 |  | 67.0 |  | 10.7 |  | 0.4 |  | 8,361.1
|  |  |  | 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
*In December 2020, the Group revised its 2014 agreement with Boeing to increase its firm orders with Boeing from 135 to 210. The terms of this agreement are confidential, but it sets out a restructured payment schedule over the delivery period from June 2021 to December 2024. This has resulted in a reversal of certain pre-delivery trade payables of approximately €497m and the related amount capitalized into PPE. In addition, the €378m reimbursements related to reasonable, and fair, compensation agreed with Boeing for the 2-year delivery delay of the Boeing 737-8200 aircraft is recorded as a reduction in PPE. At March 31, 2021, the cost and net book value of aircraft included advance payments on aircraft, net of reimbursements, of approximately €507m (2020: €1,329m; 2019: €711m). 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. At March 31, 2021, aircraft with a net book value of €950m (2020: €1,337m; 2019: €2,395m) 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. The net book value of leased assets classified as property, plant and equipment (see note 3) at March 31, 2021, 2020 and 2019 was €nil, €132m and €198m, respectively.

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