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Cash flow statements

For the year ended 31 March 2010

      Group   Company
£ million Note   2010 2009   2010 2009
Cash flow from operating activities              
Operating loss     (231) (220)   (202) (165)
Depreciation, amortisation and impairment     732 694   709 670
Operating cash flow before working capital changes     501 474   507 505
Movement in inventories, trade and other receivables     (181) 32   (242) (28)
Movement in trade and other payables and provisions     241 (132)   1,289 (128)
Payments in respect of restructuring     (81) (64)   (81) (62)
Payments in settlement of competition investigation     (19) (4)   (19) (4)
Other non-cash movement       1     7
Cash generated from operations     461 307   1,454 290
Interest paid     (136) (177)   (125) (163)
Taxation     6 3   (4) 26
Net cash generated from operating activities     331 133   1,325 153
Cash flow from investing activities              
Purchase of property, plant and equipment 14   (492) (547)   (391) (528)
Purchase of intangible assets 17   (13) (24)   (13) (24)
Proceeds from sale of other investments       7     7
Proceeds from sale of property, plant and equipment     102 5   60 10
Insurance recoveries for write-off of Boeing 777 aircraft       12     12
Purchase of subsidiary (net of cash acquired)     (9) (34)   (9) (144)
Proceeds received from loan notes     7     7  
Interest received     17 105   8 53
Dividends received       17   6 6
Decrease/(increase) in other current interest-bearing deposits     51 202   (865) 356
Net cash used in investing activities     (337) (257)   (1,197) (252)
Cash flow from financing activities              
Proceeds from long-term borrowings     1,053 377   1,053 377
Proceeds from equity portion of convertible bond     84     84  
Repayments of borrowings     (160) (66)   (148) (55)
Payment of finance lease liabilities     (609) (402)   (616) (411)
Exercise of share options       1     1
Dividends paid       (58)     (58)
Distributions made to holders of perpetual securities     (18) (17)      
Net cash flow from financing activities     350 (165)   373 (146)
Net increase/(decrease) in cash and cash equivalents     344 (289)   501 (245)
Net foreign exchange differences     40 8   36 31
Cash and cash equivalents at 1 April     402 683   219 433
Cash and cash equivalents at 31 March 24   786 402   756 219

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