AIRBUS - 2019 Financial Statements

2.2 Airbus Structure Notes to the IFRS Consolidated Financial Statements / 2 7.2 Disposals On 23 December 2019, the Company finalised the sale of PFW Aerospace GmbH to Hutchinson Holding GmbH. Since 2011, Airbus held 74.9% in PFWAerospace GmbH, a key supplier in the aerospace industry, while Safeguard held the remaining 25.1%. Airbus received a consideration of € 103 million and recognised a gain of € 57 million, reported in other income. Assets and liabilities of the disposed company were previously classified as held for sale. On 29 March 2019, the Company confirmed the agreement to sell its shares in Alestis Aerospace S.L. to Aciturri Aeronáutica S.L., a company headquartered in Miranda de Ebro, Spain. The closing of the transaction occurred on 30 July 2019. The Company recognised a gain for an amount of € 45 million in Airbus. Assets and liabilities of the disposed company were previously classified as held for sale. On 1 October 2018, the Company completed the disposal of its subsidiary Compañía Española de Sistemas Aeronáuticos, S.A. (“CESA”) to Héroux-Devtek Inc. (“Héroux- Devtek”), for a purchase price of € 114 million. On 7 March 2018, the Company finalised the sale of Plant Holdings, Inc. , held by the Airbus DS Communications Inc. business, to Motorola Solutions after receiving the required regulatory approvals. Airbus Defence and Space recognised a gain of €159 million, reported in other income. 7.3 Assets and Disposal Groups Classified as Held for Sale As of 31 December 2019, the Company accounted for assets and disposal group of assets classified as held for sale in the amount of €0 million (2018: €334 million) and for disposal group of liabilities classified as held for sale in the amount of €0 million (2018: €432 million), following the disposal of PFW Aerospace GmbH and Alestis Aerospace S.L. The assets and disposal group of assets and liabilities classified as held for sale consist of: (In € million) 31 December 2019 2018 Non-current assets 0 232 Inventories 0 21 Trade receivables 0 63 Other assets 0 2 Cash and cash equivalents 0 16 Assets and disposal groups of assets classified as held for sale 0 334 Provisions 0 3 Non-current financing liabilities 0 201 Trade liabilities 0 42 Other liabilities 0 186 Disposal groups of liabilities classified as held for sale 0 432 7.4 Cash Flows from Disposals including Assets and Disposal Groups Classified as Held for Sale The following table provides details on cash flows from disposals (resulting in assets and liabilities disposed) of subsidiaries, joint ventures and businesses: (In € million) 2019 2018 Total selling price received by cash and cash equivalents 173 325 Cash and cash equivalents included in the disposed subsidiaries (36) (5) Total 137 320 The aggregate cash flows from disposals of subsidiaries and assets and disposals groups classified as held for sale in 2019 result mainly from the sale of PFW Aerospace GmbH and Alestis Aerospace S.L. In 2018, they resulted mainly from the sale of Plant Holdings, Inc. and CESA. 23 Airbus / Financial Statements 2019