Operating Assets
Operating Assets
- Operating assets are specified as follows:
| Gross carrying amounts | Aircraft and flight equipment | Buildings | Other property and equipment | Total |
|---|---|---|---|---|
| Additions through business combinations |
16,998 |
2,063 |
1,491 |
20,552 |
| Additions during the period |
3,023 |
363 |
363 |
3,749 |
| E xchange rate difference |
273 |
0 |
4 |
277 |
| S ales and disposals during the period |
( 983 ) |
0 |
( 237 ) |
( 1,220 ) |
| B alance 31.12.2006 |
19,311 |
2,426 |
1,621 |
23,358 |
| Depreciation | ||||
|---|---|---|---|---|
| Depreciation |
438 |
29 |
106 |
573 |
| E xchange rate difference |
3 |
0 |
0 |
3 |
| S ales and disposals during the period |
( 106 ) |
0 |
( 47 ) |
( 153 ) |
| B alance 31.12.2006 |
335 |
29 |
59 |
423 |
| Carrying amounts | ||||
|---|---|---|---|---|
| 1.10.2006 |
16,998 |
2,063 |
1,491 |
20,552 |
| 31.12.2006 |
18,976 |
2,397 |
1,562 |
22,935 |
Mortgages and commitments
- The Group‘s operating assets are mortgaged to secure debt. The remaining balance
of the debt amounted to ISK 26,034 million at the end of the year 2006.
Insurance value of aircraft and flight equipment
- The insurance value and book value of aircraft and related equipment of the Company at year-end 2006 are specified as follows:
| Insurance value | Carrying amount | |
|---|---|---|
| Boeing - 9 aircrafts |
25,433 |
14,984 |
| Other aircrafts |
4,938 |
1,622 |
| Flight equipment |
3,582 |
2,370 |
| Total aircraft and flight equipment |
33,953 |
18,976 |
Insurance value of other operating assets
- The principal buildings owned by the Group at 31 December 2006 are the following:
| Official assessment value | Insurance value |
Carrying amount |
|
|---|---|---|---|
| Maintenance hangar, Keflavík Airport |
1,370 |
2,045 |
658 |
| Freight building, Keflavík Airport |
364 |
543 |
397 |
| Office building, Reykjavík Airport |
720 |
839 |
317 |
| Service building, Keflavík Airport |
355 |
561 |
263 |
| Hangar 4 & other buildings, Reykjavík Airport |
546 |
732 |
272 |
| Other buildings |
377 |
816 |
490 |
| Buildings total |
3,732 |
5,536 |
2,397 |
Official valuation of the Group‘s leased land for buildings at 31 December 2006 amounted to ISK 583 million and is not included in the Balance Sheet.
The insurance value of the Group‘s other operating assets and equipment amounted to ISK 2,991 million at the end of the year 2006. The carrying amount at the same time was ISK 1,562 million.
