Airbus - Financial Statements 2022

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

Liquidity Risk The Company’s policy is to maintain sufficient cash and cash equivalents at any time to meet its present and future commitments as they fall due. It manages its liquidity by holding adequate volumes of liquid assets and maintains a committed revolving credit facility, in addition to the cash inflow generated by its operating business. The Company continues to keep the focus on low counterparty risk within its asset portfolio. In addition, it maintains a set of other funding sources, and accordingly may raise loans from commercial banks and Development Finance Institutions and issue bonds, notes and commercial papers or enter into security lending agreements. Adverse changes in the capital markets could increase its funding costs and limit its financial flexibility. In particular, Airbus signed on 5 July 2022 a €8 billion Sustainability

Linked Revolving Syndicated Credit Facility in order to refinance its €6 billion existing facility signed in 2020. Management considers the Company has sufficient resources to continue operating for at least 12 months and that there are no material uncertainties about the Company’s ability to continue as a going concern. Further, the management of the vast majority of the Company’s liquidity exposure is centralised by a daily cash concentration process. This process enables it to manage its liquidity surplus as well as its liquidity requirements according to the actual needs of its subsidiaries. In addition, management monitors the Company’s liquidity reserve as well as the expected cash flows from its operations.

The contractual maturities of the Company’s financial liabilities, based on undiscounted cash flows and including interest payments, if applicable, are as follows:

Carrying amount

Contractual cash flows < 1 year

1 year - 2 years

2 years - 3 years

3 years - 4 years

4 years - 5 years > 5 years

(In € million)

31 December 2022

Non ‑ derivative financial liabilities

(26,753)

(29,230)

(15,885)

(1,791)

(936)

(1,760)

(1,192)

(7,666)

Derivative financial liabilities

(9,613)

(10,861)

(3,538)

(2,647)

(1,610)

(1,118)

(537)

(1,411)

Total

(36,366)

(40,091)

(19,423)

(4,438)

(2,546)

(2,878)

(1,729)

(9,077)

31 December 2021

Non ‑ derivative financial liabilities

(25,387)

(27,962)

(12,072)

(1,000)

(1,539)

(1,095)

(2,381)

(9,875)

Derivative financial liabilities

(4,563)

(6,193)

(1,887)

(1,661)

(1,245)

(728)

(440)

(232)

Total

(29,950)

(34,155)

(13,959)

(2,661)

(2,784)

(1,823)

(2,821)

(10,107)

Non ‑ derivative financial liabilities included in the table above comprise financing liabilities as presented in “– Note 38.2: Carrying Amounts and Fair Values of Financial Instruments”. Due to their specific nature, namely their risk ‑ sharing features and uncertainty about the repayment dates, the European Governments’ refundable advances, which amount to €-3,857 million at 31 December 2022 (€-3,861 million at 31 December 2021) are not included.

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