Annual Report 2008-2009 - Emirates.com

35. Financial risk management (continued)
The following sensitivity analysis shows how profit and equity would change if the market risk variables had been different on the
balance sheet date with all other variables held constant and has been computed on the basis of assumptions and indices used
and considered by other market participants.
Interest cost
- 100 basis points
UAE Dirhams
US Dollars
Singapore Dollars
+ 100 basis points
UAE Dirhams
US Dollars
Singapore Dollars
Interest income
- 100 basis points
+ 100 basis points
Currency - UK Pounds
+ 1%
- 1%
Currency - Euro
+ 1%
- 1%
Currency - Australian Dollars
+ 1%
- 1%
Currency - Japanese Yen
+ 1%
- 1%
Currency - Singapore Dollars
+ 1%
- 1%
Fuel price
+ 5 US Dollar (2008: + 1 US Dollar)
- 5 US Dollar (2008: - 1 US Dollar)
Effect on
profit
21,826
120,088
4,836
146,750
109
2009 2008
AED'000 AED'000
21,826 22,446
(138,787) 89,377
4,836 9,240
(112,125) 121,063
22,446
25,461
9,240
57,147
(21,826) (21,826) (22,446) (22,446)
(120,088) 138,787 (89,377) (25,461)
(4,836) (4,836) (9,240) (9,240)
(146,750) 112,125 (121,063) (57,147)
(25,120) (25,120) (20,097) (20,097)
25,120 25,120 20,097 20,097
844 (3,173) 1,135 (10,704)
(844) 3,173 (1,135) 10,704
1,132 1,132 5,818 (670)
(1,132) (1,132) (5,818) 670
330
330 2,996 (4,834)
(330) (330) (2,996) 4,834
(9,672) (9,672) -
9,672 9,672
-
The sensitivity analysis for fuel in the current year is not comparable with the previous year as Emirates has significantly reduced its
open fuel positions.
-
-
Effect on
equity
Effect on
profit
(3,345) -
3,345
-
Effect on
equity
(16,348) (16,348) 52,891 52,891
16,709 16,709 (63,176) (63,176)
-
-
-
-