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2018-02-14T06:25:53.409-05:00
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IFRS 16; Leases; Lease accounting; Spotlight; Summary; Aircraft; Airlines; Aeroplanes; Planes; Aviation
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2018-02-14T06:28:21.827-05:00
PwC
All lease contracts will be landing on the balance sheet of the lessee under IFRS 16. This change is estimated to add trillions of dollars of lease obligations to the balance sheets of airlines world-wide. Most lease obligations are denominated in US-Dollars, with many airlines exposed to additional foreign currency volatility.
IFRS 16
Leases
Lease accounting
Spotlight
Summary
Aircraft
Airlines
Aeroplanes
Planes
Aviation
Sir David Tweedie’s wish may be realised with planes coming onto Airlines’ balance sheets. Aeroplane leases are often priced in USD so airlines could face increased P&L volatility (the USD lease liability will be re-translated but the right-of-use asset will not).
In the Spotlight provides a summary of the key changes from IFRS 16 and the most relevant areas for the industry.
IFRS 16, 'Leases' - Implications for the airlines industry - PwC In the Spotlight
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pwc:services/audit_and_assurance/ifrs_reporting/ifrs_16
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