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Provisions

12 Months Ended

Mar. 31, 2023

13. Provisions


	At March 31,
	2023	2022	2021
	€M	€M	€M
Provision for aircraft maintenance on leased aircraft (a)	169.8	98.8	53.2
Provision for pension obligation (b)	4.5	4.5	4.5
	174.3	103.3	57.7



	At March 31,
	2023	2022	2021
(a) Provision for aircraft maintenance on leased aircraft	€M	€M	€M
At beginning of year	98.8	53.2	75.4
Increase in provision during the year	71.0	55.6	37.3
Utilization of provision upon the hand-back of aircraft	—	(10.0)	(59.5)
At end of year	169.8	98.8	53.2

During fiscal year 2023, the Company returned 1 Airbus A320 aircraft held under lease to the lessor. During fiscal year 2022, the Company returned 3 Boeing 737 (2021: 11) aircraft held under lease to the lessors.

The expected timing of the outflows of economic benefits associated with the provision at March 31, 2023, 2022 and 2021 are as follows:

Carrying

Value

2024

2025

2026

2027

Thereafter

€M

At March 31, 2023

Provision for leased aircraft maintenance

169.8

19.8

30.1

10.4

5.4

104.1

Carrying

Value

2023

2024

2025

2026

Thereafter

€M

At March 31, 2022

Provision for leased aircraft maintenance

98.8

9.2

23.3

56.7

9.6

—

Carrying

Value

2022

2023

2024

2025

Thereafter

€M

At March 31, 2021

Provision for leased aircraft maintenance

53.2

10.3

4.1

11.5

24.3

3.0



	At March 31,
	2023	2022	2021
(b) Provision for pension obligation	€M	€M	€M
At beginning of year	4.5	4.5	4.5
Movement during the year	—	—	—
At end of year	4.5	4.5	4.5

See Note 20 to the consolidated financial statements for further details.