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Receivables from aircraft sales

25. At year end 2006 the Group had made prepayments on six Boeing 737-800 aircrafts to be delivered in 2007. During the first quarter of 2007 the Group sold all these aircrafts.  The Group also sold three other aircrafts during the first quarter and one during fourth quarter, two of them on a sale and leaseback contracts for 5 and 6 years.  Of these aircrafts two were purchased during the first quarter and one was bought during third quarter.             

 Total sale price amounted to ISK 11,850 million and capital gain on sale amounted to ISK 1,196 million.  Receivables from sale of aircraft amount to ISK 1,753 million at 31 December 2007 and was paid in January 2008.



 



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