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Annual report and accounts 2016

124 Notes to the

124 Notes to the consolidated financial statements continued 13 Property, plant and equipment continued The net book value of property comprises: € million 2016 2015 Freehold 494 561 Long leasehold improvements 331 387 Short leasehold improvements 1 332 390 Property 1,157 1,338 1 Short leasehold improvements relate to property leasehold interests with duration of less than 50 years. At December 31, 2016, bank and other loans of the Group are secured on fleet assets with a cost of €1,071 million (2015: €1,466 million) and letters of credit of €273 million in favour of the British Airways Pension Trustees are secured on certain aircraft (2015: €278 million). 14 Capital expenditure commitments Capital expenditure authorised and contracted for but not provided for in the accounts amounts to €14,022 million (December 31, 2015: €16,091 million). The majority of capital expenditure commitments are denominated in US dollars, and as such are subject to changes in exchange rates. The outstanding commitments include €13,991 million for the acquisition of 89 Airbus A320s (from 2018 to 2022), 17 Airbus A321s (from 2017 to 2019), 5 Airbus A330s (from 2017 to 2018), 43 Airbus A350s (from 2018 to 2022) and 18 Boeing 787s (from 2017 to 2021). 15 Non-current assets held for sale The non-current assets held for sale of €38 million represent €15 million for the Group’s investment in Propius Holdings Limited and €23 million for five Airbus A340-300 aircraft. These are presented within the Aer Lingus and Iberia operating segments respectively and will exit the business within 12 months of December 31, 2016. During the year to December 31, 2016 six Airbus A340-300 aircraft were classified as held for sale. Assets held for sale with a net book value of €19 million disposed of during the year, related to the sale of one Airbus A340-300 aircraft in Iberia and three Boeing 737-400 airframes and nine Boeing 737-400 engines in British Airways, resulting in a gain of €1 million in British Airways. At December 31, 2015 the non-current assets held for sale of €5 million represented three Boeing 737-400 airframes and nine Boeing 737-400 engines that had been stood down from use and were being marketed for sale. These were presented within the British Airways segment. INTERNATIONAL AIRLINES GROUP Annual Report and Accounts 2016

125 16 Intangible assets and impairment review a Intangible assets € million Goodwill Brand Customer loyalty programmes Landing rights 1 Other 2 Total Cost Balance at January 1, 2015 328 341 253 1,442 749 3,113 Additions – – – – 168 168 Acquired through Business combination 272 110 – 172 40 594 Disposals – – – – (114) (114) Reclassifications – – – – 20 20 Exchange movements 5 – – 70 42 117 Balance at December 31, 2015 605 451 253 1,684 905 3,898 Additions – – – – 154 154 Disposals – – – – (19) (19) Reclassifications – – – – 20 20 Exchange movements (7) – – (128) (100) (235) December 31, 2016 598 451 253 1,556 960 3,818 Amortisation and impairment Balance at January 1, 2015 249 – – 77 349 675 Charge for the year – – – 3 72 75 Disposals – – – – (78) (78) Reclassifications – – – – 8 8 Exchange movements – – – 6 17 23 Balance at December 31, 2015 249 – – 86 368 703 Charge for the year – – – 6 98 104 Impairment charge recognised during the year 3 – – – 14 – 14 Reclassifications – – – – 9 9 Exchange movements – – – (8) (41) (49) December 31, 2016 249 – – 98 434 781 Net book values December 31, 2016 349 451 253 1,458 526 3,037 December 31, 2015 356 451 253 1,598 537 3,195 1 The net book value includes non-EU based landing rights of €113 million (2015: €123 million) that have a finite life. The remaining life of these landing rights is 19 years. 2 Other intangible assets consist primarily of software with a net book value of €474 million (2015: €487 million), and also include purchased emissions allowances. 3 The impairment charge of €14 million relates to landing rights associated with British Airways’ Openskies operation, €11 million of which relates to landing rights in the EU that have an indefinite life. Strategic Report Corporate Governance Financial Statements Additional Information www.iairgroup.com

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