CzeCh airlines - České aerolinie

NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 31 December 2010
annual report 2010 | 85
22. OTHER OPERATING EXPENSES
24. OTHER FINANCIAL EXPENSES
2010
CZK’000
2009
CZK’000
2010
CZK’000
2009
CZK’000
Fines and penalties 68,415 121,226
Write-offs of receivables 27,612 11,698
Insurance 88,498 98,712
Denied boarding compensation 27,436 21,645
Wages and salaries settlement
(e.g. termination benefits, injury compensation)
1,304 1,934
Compensations to passengers (e.g. hotel accommodation,
refreshment and phones in the
39,063 31,538
case of flight cancellation, rebooking etc.)
Marketing expenses 5,230 11,558
Shortages and damages 10,773 15,510
Other 27,487 54,500
In 2010, allowances amounting to CZK 17,974 thousand were released with respect
to the written-off receivables (2009: CZK 10,323 thousand) (Note 9). The total
impact on the profit and loss account amounted to a loss of CZK 9,638 thousand in
2010 (2009: CZK 1,375 thousand loss).
In 2010, the item “Other” contains the brokerage from the sale of aircraft and other
non-taxable expenses. In 2009, the item “Other” represents the disposal of rotables
in the amount of CZK 18,701 thousand.
23. OTHER FINANCIAL INCOME
295,818 368,321
2010
CZK’000
2009
CZK’000
Foreign exchange rate gains 555,974 987,153
Income from derivative financial instruments 220,105 1,115,398
Other 121
776,079 2,102,672
Foreign exchange rate losses 648,271 1,116,431
Expenses from derivative financial instruments 269,162 941,057
Bank charges for transaction payments made
by credit cards
91,872 101,913
Other 16,956 22,772
1,026,261 2,182,173
25. EXTRAORDINARY INCOME AND EXPENSES
Extraordinary income and expenses relate to the sale of part of the Company’s
business – Duty Free. The income from the sale was in the amount of CZK 767,195
thousand and the carrying amount of assets and liabilities of the sold part was CZK
59,177 thousand (Note 28).
26. RELATED PARTY TRANSACTIONS
The Company was involved in the following related party transactions:
Revenue
2010
CZK’000
2009
CZK’000
Subsidiaries
AMADEUS MARKETING CSA, s.r.o. 31 49
HOLIDAYS Czech Airlines, a.s. 959,955 1,115
CSA Services, s.r.o. 20,057 14,049
Czech Airlines Handling, s.r.o.
(formerly ČSA Support s.r.o.)
83,492 7,758
SLOVAK AIR SERVICES, s.r.o. 337 178
Czech Airlines Technics, a.s.
(formerly ClickforSky, a.s.)
70,632 3,192
Other related companies
Letiště Prague, a.s.
(formerly Správa Letiště Prague, s.p.)
1,088,913 612,794
ČEZ, a.s. 102
2,223,519 639,135
Revenue received from ČEZ, a.s. represents the interest income from the promissory
notes issued by ČEZ, a.s. (Note 7).