7 INTANGIBLE ASSETS
|
(CHF 1,000) |
|
Investments in airport operator projects |
|
Intangible asset from right of formal expropriation |
|
Other intangible assets |
|
Cost |
|
|
|
|
|
|
|
Balance as at 1 January 2021 |
|
299,559 |
|
134,029 |
|
77,056 |
|
Additions |
|
6,989 |
|
0 |
|
0 |
|
Disposals |
|
–237 |
|
0 |
|
–370 |
|
Transfers and reclassifications |
|
–4,590 |
|
0 |
|
3,600 |
|
Foreign exchange differences |
|
1,464 |
|
0 |
|
0 |
|
Balance as at 30 June 2021 |
|
303,185 |
|
134,029 |
|
80,286 |
|
|
|
|
|
|
|
|
|
Accumulated depreciation and impairment losses |
|
|
|
|
|
|
|
Balance as at 1 January 2021 |
|
–17,423 |
|
–65,439 |
|
–59,690 |
|
Additions |
|
–3,583 |
|
–1,127 |
|
–4,221 |
|
Disposals |
|
182 |
|
0 |
|
370 |
|
Foreign exchange differences |
|
–113 |
|
0 |
|
0 |
|
Balance as at 30 June 2021 |
|
–20,937 |
|
–66,566 |
|
–63,541 |
|
|
|
|
|
|
|
|
|
Net carrying amount as at 1 January 2021 |
|
282,136 |
|
68,590 |
|
17,366 |
|
Net carrying amount as at 30 June 2021 |
|
282,248 |
|
67,463 |
|
16,745 |
Investments in airport operator projects
The investments in airport operator projects in the amount of CHF 282.2 million (31 December 2020: CHF 282.1 million) consist of concession rights which, due to the application of IFRIC 12, comprise minimum concession payments recognised as assets and investments made. They relate to the expansion and operation of the Chilean airports in Antofagasta and Iquique (CHF 60.6 million; 31 December 2020: CHF 56.2 million), the expansion and operation of the Brazilian airport in Florianópolis (CHF 128.7 million; 31 December 2020: CHF 128.9 million) and the expansion and operation of the Brazilian airports in Vitória and Macaé (CHF 92.9 million; 31 December 2020: CHF 92.4 million).
The obligations of CHF 24.9 million (31 December 2020: CHF 23.2 million) relating to the corresponding concessions have been recognised as current or non-current liabilities (see note 10, Financial liabilities).
IMPAIRMENT
Due to the coronavirus crisis and the related indicators that investments in airport operator projects may be impaired, Flughafen Zürich AG performed some impairment tests (see note 16.1, Impairment in accordance with IAS 36).
