AIRBUS - 2020 Financial Statement

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

As of 31 December 2020, the total hedge portfolio with maturities up to 2027 amounts to US$81.0 billion (2019: US$97.1 billion) and covers a major portion of the foreign exchange exposure expected over the hedging horizon. The average US$/€ hedge rate of the US$/€ hedge portfolio until 2027 amounts to 1.26 US$/€ (2019: 1.23 US$/€) and for the US$/£ hedge portfolio until 2024 amounts to 1.37 US$/£ (2019: 1.37 US$/£).

2021

2022

2023

2024

2025+

Total

(In £ million)

Total hedges

285

327

298

155

58

1,123

Forward rates €/£

0.89

0.89

0.89

0.91

0.92

0.89

During the course of the year 2020, €/£ 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 2020 Interest rate contracts

109

0

815 1,000

0

600 1,222 1,400

5,146

Interest rate future contracts

0

0

0

0

0

0

0

0

0

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

Please also refer to “– Note 37.3: 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

22

11

3

0

31 December 2020

61

25

36

20

12

3

31 December 2019

96

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)

32

23

17

8

0

31 December 2020

80

37

32

23

9

0

31 December 2019

101

75

Airbus / Financial Statements 2020