Page 138 - ENAV eng_Relazione_Finanziaria_Annuale_2014

136 ENAV – 2014 Financial Statements

Other information

29. Guarantees

Guarantees consist of sureties of ¤3,303 thousand (¤2,526 thousand
at 31 December 2013) pledged to third parties in the Group’s interest,
representing an increase of ¤777 thousand which arises from new issues
and the release of previous sureties. This difference mainly relates to
sureties issued to participate in European tenders and entering the relative
agreements.

30. Related party transactions

Related parties are identified on the basis of the requirements of IAS 24
(Revised).

Related parties of the ENAV Group consist of the controlling and supervising
ministries, such as the Ministry of Economy and Finance (MEF in the table
below) and the Ministry of Infrastructure and Transport (MIT in the table
below), as well as the entities under the control of the Ministry of Economy
and Finance. Relationships with the controlling and supervising ministries
are dependent on the provisions of laws and regulations and regard: i) the
provision of flight assistance services charged to the Ministry of Economy
and Finance; ii) safety services for the systems and equipment contributed
by the Ministry of Infrastructure and Transport. These relationships are
described in the notes on the individual financial statement items.

The following table provides a summary of the Group’s transactions and
balances with related parties:

MEF MIT

2014 2013 2014 2013

Balances 14,211 25,488 40,434 69,362
Trade receivables 0 0 0 0
Financial receivables 0 0
Trade payables (52,413) (57,404)
Total (38,202) (31,916) 40,434 69,362
Transactions
Revenues 14,211 14,158 30,000 30,000
Costs for services 0 0 0 0
Capitalized costs 0 0 0 0
Total
14,211 14,158 30,000 30,000