AIRBUS - 2019 Financial Statements

2.7 Capital Structure and Financial Instruments Notes to the IFRS Consolidated Financial Statements /

As of 31 December 2019, the total hedge portfolio with maturities up to 2026 amounts to US$ 97.1 billion (2018: US$ 81.9 billion) and covers a major portion of the foreign exchange exposure expected over the period of the operative planning. The average US$/€ hedge rate of the US$/€ hedge portfolio until 2026 amounts to 1.23 US$/€ (2018: 1.24 US$/€) and for the US$/£ hedge portfolio until 2023 amounts to 1.37 US$/£ (2018: 1.40 US$/£).

2020

2021

2022

2023

2024+

Total

(In £ million)

Total hedges

36

135

182

164

79

596

Forward rates €/£

1.03

0.90

0.89

0.90

0.91

0.91

During the course of the year 2019, €/£ hedges were implemented in order to cover the GBP exposure of the company.

The notional amounts of interest rate contracts are as follows:

Remaining period 1 year 2 years 3 years 4 years 5 years 6 years 7 years >7 years

Total

(In € million)

31 December 2019 Interest rate contracts

7

162

4

890 1,000

0

600 2,735

5,398

Interest rate future contracts

0

0

0

0

0

0

0

0

0

31 December 2018 Interest rate contracts

939

7

172

4 1,048 1,000

600 1,200

4,970

Interest rate future contracts

215

0

0

0

0

0

0

0

215

Please also refer to “– Note 36.3: Financing Liabilities”.

The notional amounts of commodity contracts are as follows:

Remaining period

1 year

2 years

3 years

4 years

>4 years

Total

(In € million)

25

36

20

12

3

31 December 2019

96

36

19

14

10

3

31 December 2018

81

2

The notional amounts of equity swaps are as follows:

Remaining period

1 year

2 years

3 years

4 years

>4 years

Total

(In € million)

37

32

23

9

0

31 December 2019

101

49

37

27

9

0

31 December 2018

123

75

Airbus / Financial Statements 2019