Page 213 - ENAV eng_Relazione_Finanziaria_Annuale_2014

Notes to the Financial Statements of ENAV SpA 211

of which ¤8,920 thousand regards the pre-financing portion received at
the end of 2013 relating to the other participants in the “ANSPs Interim
Deployment Programme Implementation”, which is funded as part of the
TEN-T program for new technological and procedural implementations
in air transport and in which ENAV has a coordination role, to whom
the amount was transferred in January 2014. The second instalment of
the pre-financing for the same project was received in June; the portion
relating to ENAV which is recognized in this item and which represents
the increase over the year amounts to ¤2,540 thousand. ENAV obtained
additional funding in 2014 as part of the TEN-T program for the project of
common interest for the implementation of advanced capacities of flight
data processing (FDP) in Europe with the receipt of the first instalment of
the pre-financing of ¤747 thousand. An amount of ¤828 thousand was
released to income, representing the portion relating to the year, while an
amount of ¤106 thousand is classified in other current liabilities.

20. Current and non-current trade payables

Current trade payables amount to ¤114,552 thousand (¤128,993 thousand
at 31 December 2013) and consist of ¤107,946 thousand due to the
suppliers of goods and services required for the Company’s activities and
the prefinancing received for projects financed at a European level, of
which SESAR represents the major part. The change over the year mainly
relates to a decrease in amounts due to suppliers following the payments
made during the year. Balances due to suppliers fell further in early 2015
following payments of ¤30 million.

Non-current trade payables all relate to the Eurocontrol balance of ¤7,944
thousand, which less the portion of ¤141 thousand arising from discounting
the liability to present value amounted to ¤7,803 thousand at 31 December
2014. This figure relates wholly to inflation which in actual terms was 0.2%
compared to a budgeted figure of 2%. The amount will be paid to carriers
through the charge in 2016 and accordingly has been classified as non-
current.