AIRBUS - 2020 Financial Statement

4. Notes to the IFRS Company Financial Statements /

Short-term financing liabilities increased by €1,156 million to €1,156 million (2019: €0 million). The increase in short-term financing liabilities is mainly related to the issuance of commercial papers and the reclassification of €1 billion of exchangeable bonds from long-term to short-term due to maturity in June 2021. The Company can issue commercial paper under its Negotiable European Commercial Paper (“NEuCP”) programme at floating or fixed interest rates corresponding to the individual maturities ranging from 1 day to 12 months. The programme has been set up in 2003 with a maximum volume of €2 billion, increased in 2013 to €3bn and in 2020 to a maximum volume of €11 billion. As of 31 December 2020, there were no outstanding amounts under any of its commercial paper programmes. On 21 October 2020, the Company signed a new €6 billion Revolving Syndicated Credit Facility partially terming out the €15 billion credit facility by €3 billion in order to refinance its existing €3 billion Revolving Syndicated Facility. Reconciliation of liabilities arising from financing liabilities is as follows:

Non-cash movements

Balance at 31 December 2020

Balance at 1 January

Fair value through profit or loss

Foreign exchange movements Others

2020 Cash flows

(In € million)

Bonds and commercial papers

2,435

5,940

83

(113)

13

8,358

Liabilities to financial institutions

89

0

0

(8)

0

81

Loans from Airbus Finance B.V.

4,056

0

89

(75)

3

4,073

Total

6,580

5,940

172

(196)

16

12,512

Non-cash movements

Balance at 1 January

Fair value through profit or loss

Foreign exchange movements Others

Balance at 31 December 2019

2019 Cash flows

(In € million)

Bonds and commercial papers

2,791

0

88

25

(469)

2,435

Liabilities to financial institutions

87

0

0

2

0

89

Loans from Airbus Finance B.V.

3,868

0

168

17

3

4,056

Total

6,746

0

256

44

(466)

6,580

106

Airbus / Financial Statements 2020