Annual Report 2008-2009 - Emirates.com

More documents

Recommendations

Info

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) - - - -
Emirates 110 35. Financial risk management (continued) (iii) Liquidity risk Liquidity risk is the risk that Emirates is unable to meet its payment obligations associated with its financial liabilities when they fall due and to replace funds when they are withdrawn. Emirates liquidity management process as monitored by the senior management, includes the following: replenishment of funds as they mature. Emirates maintains diversified credit lines to enable this to happen. Sources of liquidity are regularly reviewed by senior management to maintain a diversification by geography, provider, product and term. Summarised below in the table is the maturity profile of financial liabilities and net-settled derivative financial liabilities based on the undiscounted cash flows. 2009 Borrowings and lease liabilities 1,856,392 Derivative financial instruments 115,102 sales in advance and other non financial liabilities) 6,881,831 8,853,325 2008 Borrowings and lease liabilities 1,960,487 Derivative financial instruments 282,184 sales in advance) 7,883,711 Less than 1 year 2 - 5 years Over 5 years Total AED'000 AED'000 AED'000 AED'000 10,126,382 11,502,331 416,570 25,307 11,944,208 9,317,386 201,222 12,578 9,531,186 7,134,877 66,705 - 7,201,582 6,026,725 1,152 - 6,027,877 20,493,600 598,377 6,907,138 27,999,115 17,304,598 484,558 7,896,289 25,685,445
Page 1:
Annual Report 2008-2009 The Emirate
Page 4 and 5:
The Emirates Group Emirates is the
Page 6 and 7:
4 The Emirates Group Chairman and C
Page 8 and 9:
6 The Emirates Group Chairman and C
Page 10 and 11:
8 The Emirates Group Executive Vice
Page 12 and 13:
First Class Suite 10 Emirates Presi
Page 14 and 15:
12 Emirates The Airline Emirates A3
Page 16 and 17:
14 Emirates The Airline 15 Emirates
Page 18 and 19:
Other firsts included: The implemen
Page 20 and 21:
A series of relief charter flights
Page 22 and 23:
In West Asia, the total number of f
Page 24 and 25:
Public, International, Industry and
Page 26 and 27:
the aircraft had a direct impact on
Page 28 and 29:
Creek extensions, and finally linki
Page 30 and 31:
In Dubai, Dnata Travel Services ope
Page 32 and 33:
coordination between them. This has
Page 34 and 35:
Government Travel Services (GTS) ex
Page 36 and 37:
XDAS also provided support for the
Page 38 and 39:
EmQuest EmQuest is a travel distrib
Page 40 and 41:
airport by serving 99,000 flights d
Page 42 and 43:
Creation of the Customer Knowledge
Page 44 and 45:
Tanzania; oversee Dnata Travel’s
Page 46 and 47:
external agencies such as Dubai Imm
Page 48 and 49:
- An enhanced version of flightcrew
Page 50 and 51:
3 was heavily advertised, This incl
Page 52 and 53:
was attended by officials of the Ba
Page 54 and 55:
Contents Financial Report 2008-2009
Page 56 and 57:
Consolidated financial statements T
Page 58 and 59:
Profitability Group net profit for
Page 60 and 61: Value added Value added is a measur
Page 62 and 63: Fuel and oil 14,443 Employee (see (
Page 64 and 65: Capacity, traffic, load factor and
Page 66 and 67: At 31 Mach 2009: Fleet information
Page 68 and 69: Expenditure 067 2008-09 2007-08 AED
Page 70 and 71: Employee strength and productivity
Page 72 and 73: Independent auditor’s report to t
Page 74 and 75: Consolidated balance sheet as at 31
Page 76 and 77: Consolidated cash flow statement fo
Page 78 and 79: 2. Summary of significant accountin
Page 84 and 85: 3. Critical accounting estimates an
Page 86 and 87: 4. Revenue (continued) Transport re
Page 88 and 89: 10. Property, plant and equipment C
Page 90 and 91: 11. Intangible assets Cost 1 April
Page 92 and 93: Movement of investments in associat
Page 94 and 95: 14. Other investments (continued) (
Page 96 and 97: 18. Capital Capital represents the
Page 98 and 99: 22. Term loans Balance brought forw
Page 100 and 101: 24. Provisions (continued) (i) Fund
Page 102 and 103: 27. Trade and other payables Trade
Page 104 and 105: 32. Derivative financial instrument
Page 106 and 107: 34. Related party transactions The
Page 108 and 109: 35. Financial risk management Finan
Page 112 and 113: 36. Capital risk management Emirate
Page 114 and 115: Consolidated income statement for t
Page 116 and 117: 1 April 2007 62,615 Currency transl
Page 118 and 119: 1. Establishment and operations Not
Page 124 and 125: 8. Property, plant and equipment Co
Page 126 and 127: 10. Investments in subsidiaries, as
Page 128 and 129: 12. Trade and other receivables Tra
Page 130 and 131: 14. Employee end of service benefit
Page 132 and 133: 17. Trade and other payables Less t
Page 134 and 135: 23. Related party transactions The
Page 136 and 137: 24. Financial risk management Dnata
Page 138 and 139: 24. Financial risk management (cont
show all

Annual Report 2008-2009 - Emirates.com

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?