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Trade and other receivables subject to impairment testing 2010 2009
Fully performed 23,084,159 27,441,521
Past due but not impaired
Impaired 7,855,366 7,621,986
Total trade and other receivables subject 35,184,298 107,728,975
to impairment testing 66,123,823 142,792,482
The remaining balance of trade and other receivables mainly comprises accrued property rentals and is not subject to
impairment testing.
The aging analysis of the past, but not impaired amount is presented in the following table:
Aging analysis of past due but not impaired receivables 2010 2009
1-30 days 4,550,181 6,305,408
31-60 days 1,043,553 775,499
Over 60 days 2,261,632 541,079
Total of past due but not impaired receivables 7,855,366 7,621,986
• Credit quality of financial assets
The credit quality of the financial assets is quite satisfactory, taking into account the allowance for doubtful debt. The
Company has established a credit policy which requires the customers to extend securities for the use of airport’s services
and facilities. The securities held by the Company are in the form of cash deposits, bank letter of guarantee and mortgages
on aircrafts. The fair value of the collaterals held by the Company as at 31 December 2010 is analysed as follows:
Fair value of collaterals held 2010 2009
Letter of Guarantees 50,419,495 46,949,649
Cash deposits 25,029,990 25,440,124
29,123,282
Mortgage on aircrafts 0 101,513,055
Total fair value of collaterals held 75,449,485
The collaterals above have been received against the outstanding balance of all trade receivable accounts
The credit quality of financial assets that are neither past due nor impaired can be assessed by reference to information
about counterparty secured amounts:
2010 2009
Group 1 – Fully secured 22,660,828 15,282,507
Group 2 – Partially secured 11,689,437
Group 3 – Not secured 236,013
Total 187,318 469,577
23,084,159 27,441,521
• Provision for impairment
As of 31 December 2010, trade receivables of €35.184.298 (2009: €107.728.975) were partially or fully tested for
impairment and adequately provided for their unsecured amount. The amount of provision was €3.849.528 as of 31
December 2010. The individually impaired receivables mainly relate to customers, which are in unexpectedly difficult
economic situations. It was assessed that a portion of the receivables is expected to be recovered.
Movements on the provision for impairment of trade receivables are as follows:
Financial Statements as at 31 December 2010 (Amounts in Euros unless otherwise stated) Page 28 of 51
Fully performed 23,084,159 27,441,521
Past due but not impaired
Impaired 7,855,366 7,621,986
Total trade and other receivables subject 35,184,298 107,728,975
to impairment testing 66,123,823 142,792,482
The remaining balance of trade and other receivables mainly comprises accrued property rentals and is not subject to
impairment testing.
The aging analysis of the past, but not impaired amount is presented in the following table:
Aging analysis of past due but not impaired receivables 2010 2009
1-30 days 4,550,181 6,305,408
31-60 days 1,043,553 775,499
Over 60 days 2,261,632 541,079
Total of past due but not impaired receivables 7,855,366 7,621,986
• Credit quality of financial assets
The credit quality of the financial assets is quite satisfactory, taking into account the allowance for doubtful debt. The
Company has established a credit policy which requires the customers to extend securities for the use of airport’s services
and facilities. The securities held by the Company are in the form of cash deposits, bank letter of guarantee and mortgages
on aircrafts. The fair value of the collaterals held by the Company as at 31 December 2010 is analysed as follows:
Fair value of collaterals held 2010 2009
Letter of Guarantees 50,419,495 46,949,649
Cash deposits 25,029,990 25,440,124
29,123,282
Mortgage on aircrafts 0 101,513,055
Total fair value of collaterals held 75,449,485
The collaterals above have been received against the outstanding balance of all trade receivable accounts
The credit quality of financial assets that are neither past due nor impaired can be assessed by reference to information
about counterparty secured amounts:
2010 2009
Group 1 – Fully secured 22,660,828 15,282,507
Group 2 – Partially secured 11,689,437
Group 3 – Not secured 236,013
Total 187,318 469,577
23,084,159 27,441,521
• Provision for impairment
As of 31 December 2010, trade receivables of €35.184.298 (2009: €107.728.975) were partially or fully tested for
impairment and adequately provided for their unsecured amount. The amount of provision was €3.849.528 as of 31
December 2010. The individually impaired receivables mainly relate to customers, which are in unexpectedly difficult
economic situations. It was assessed that a portion of the receivables is expected to be recovered.
Movements on the provision for impairment of trade receivables are as follows:
Financial Statements as at 31 December 2010 (Amounts in Euros unless otherwise stated) Page 28 of 51
