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v3.22.2

Right of use assets & lease liabilities | 12 Months Ended
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Mar. 31, 2022
Right of use assets & lease liabilities |
Right of use assets & lease liabilities | 3.Right of use assets & lease liabilities ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Year ended March 31,
Leases under IFRS 16 recognized in Consolidated Income Statement | ​ | ​ | ​ | 2022 | ​ | 2021 | ​ | 2020
​ | ​ | ​ |  | €M | ​ | €M | ​ | €M
Interest on lease liabilities | ​ | ​ |  | 3.7 | ​ | 4.6 | ​ | 5.6
Depreciation charge | ​ | ​ | ​ | 54.5 | ​ | 68.6 | ​ | 59.4
Expenses relating to short-term leases | ​ | ​ | ​ | — | ​ | 6.7 | ​ | 38.2
Lease charge for year end | ​ | ​ | ​ | 58.2 | ​ | 79.9 | ​ | 103.2
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | At March 31,
Right of use-assets | ​ | ​ | ​ | 2022 | ​ | 2021 | ​ | 2020
Balance at beginning of year | ​ | ​ | ​ | 188.2 | ​ | 236.8 | ​ | 130.7
Depreciation charge for the year | ​ | ​ | ​ | (54.5) | ​ | (68.6) | ​ | (59.5)
Additions | ​ | ​ | ​ | — | ​ | 27.9 | ​ | 166.1
Modification of leases | ​ | ​ | ​ | — | ​ | (7.9) | ​ | (0.5)
Balance at end of year | ​ | ​ | ​ | 133.7 | ​ | 188.2 | ​ | 236.8
Net book value of leased assets classified as property, plant and equipment (Note 2) | ​ | ​ | ​ | — | ​ | — | ​ | 132.0
Total right of use assets at end of year | ​ | ​ | ​ | 133.7 | ​ | 188.2 | ​ | 368.8
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | At March 31,
Lease Liabilities | ​ | ​ | ​ | 2022 | ​ | 2021 | ​ | 2020
Balance at beginning of year | ​ | ​ | ​ | 183.1 | ​ | 245.9 | ​ | 140.4
Additions | ​ | ​ | ​ | — | ​ | 27.9 | ​ | 166.1
Financing cash outflows from lease liabilities | ​ | ​ | ​ | (56.7) | ​ | (76.8) | ​ | (67.5)
Interest expense | ​ | ​ | ​ | 3.7 | ​ | 4.6 | ​ | 5.6
Modification of leases | ​ | ​ | ​ | — | ​ | (2.7) | ​ | —
Exchange movements | ​ | ​ | ​ | 8.2 | ​ | (15.8) | ​ | 1.3
Balance at end of year | ​ | ​ | ​ | 138.3 | ​ | 183.1 | ​ | 245.9
Present value of future minimum lease payments classified as debt (Note 12) | ​ | ​ | ​ | — | ​ | — | ​ | 172.0
Total lease liabilities at end of year | ​ | ​ | ​ | 138.3 | ​ | 183.1 | ​ | 417.9
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | At March 31,
Lease Liabilities | ​ | ​ | ​ | 2022 | ​ | 2021 | ​ | 2020
Current lease liability | ​ | ​ | ​ | 56.9 | ​ | 52.5 | ​ | 75.0
Non-current lease liability | ​ | ​ | ​ | 81.4 | ​ | 130.6 | ​ | 170.9
Total lease liabilities at end of year | ​ | ​ | ​ | 138.3 | ​ | 183.1 | ​ | 245.9
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
A maturity analysis of our lease liabilities as at March 31, 2022 has been disclosed within Note 12. | ​ | ​
​ The Group negotiated rent concessions with its lessors for most of its aircraft leases as a result of the severe impact of the Covid-19 pandemic during fiscal year 2021. The Group applied the practical expedient for Covid-19-related rent concessions consistently to eligible rent concessions. There were no further rent concessions in fiscal year 2022. The amount recognized in profit or loss for the reporting period to reflect changes in lease payments arising from rent concessions to which the Group has applied the practical expedient for Covid-19-related rent concessions is €nil (2021: €nil, 2020: €nil).

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- Definition The entire disclosure for leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2021-01-01 -Section Presentation -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2021-en-r&doctype=Standard&dita_xref=IFRS16_g47-50_TI -URIDate 2021-03-24 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 16 -IssueDate 2021-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=16&code=ifrs-tx-2021-en-r&doctype=Standard&dita_xref=IFRS16_g51-60_TI -URIDate 2021-03-24 + Details
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