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Operating Assets

Operating Assets

  1. 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

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

  1. 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

  1. 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

  1. The principal buildings owned by the Group at 31 December 2006 are the following:
   Official assessment value  Insurance value

 Carrying amount

Maintenance hangar, KeflavÝk Airport

 1,370

 2,045

 658

Freight building, KeflavÝk Airport

 364

 543

 397

Office building, ReykjavÝk Airport

720

839

317

Service building, KeflavÝk Airport

355

561

263

Hangar 4 & other buildings, ReykjavÝk 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. 

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