Annual Report 2008-2009 - Emirates.com

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Consolidated balance sheet as at 31 March 2009 073 Emirates Note 2009 2008 AED'000 AED'000 ASSETS Non-current assets Property, plant and equipment 10 29,085,716 21,368,506 Intangible assets 11 923,420 863,353 Investments in associated companies and joint ventures 12 441,068 614,670 Advance lease rentals 13 192,103 222,674 Available-for-sale financial assets 14 113,112 1,847,833 Held-to-maturity financial assets 14 - 200,000 Loans and other receivables 15 1,039,195 1,227,508 Derivative financial instruments 32 124,521 1,377,167 Current assets 31,919,135 27,721,711 Inventories 16 1,052,573 751,290 Trade and other receivables 17 7,108,926 7,179,559 Available-for-sale financial assets 14 - 96,000 Held-to-maturity financial assets 14 200,000 215,796 Derivative financial instruments 32 - 187,726 Short term bank deposits 30 2,618,921 7,644,972 Cash and cash equivalents 30 4,549,439 2,714,940 15,529,859 18,790,283 Total assets 47,448,994 46,511,994 EQUITY AND LIABILITIES Capital and reserves Capital 18 801,214 801,214 Reserves 19 15,608,732 15,885,617 Attributable to Emirates' Owner 16,409,946 16,686,831 Minority interest 158,532 156,039 Total equity 16,568,478 16,842,870 Non-current liabilities Borrowings and lease liabilities 20 15,139,875 12,300,610 Provisions 24 546,845 570,343 Deferred credits 25 492,066 600,064 Deferred income tax liability 26 12,683 19,950 Trade and other payables 27 25,307 12,578 Derivative financial instruments 32 538,275 702,872 Current liabilities 16,755,051 14,206,417 Trade and other payables 27 12,530,746 13,549,801 Income tax liabilities 22,834 161,839 Borrowings and lease liabilities 20 1,371,628 1,416,275 Deferred credits 25 168,980 164,696 Derivative financial instruments 32 31,277 170,096 14,125,465 15,462,707 Total liabilities 30,880,516 29,669,124 Total equity and liabilities 47,448,994 46,511,994 The consolidated financial statements were approved on the 11th day of May 2009 and signed by: Sheikh Ahmed bin Saeed Al-Maktoum Timothy Clark Chairman and Chief Executive President Notes 1 to 38 form an integral part of the consolidated financial statements.
Emirates 074 Consolidated statement of changes in equity for the year ended 31 March 2009 1 April 2007 801,214 Currency translation differences - Loss on available-for-sale financial assets - Net gain / (loss) on fair value of cash flow hedges - Transferred to consolidated income statement - Net direct movement in equity - Profit for the year - Total net income for the year - Additional investment by minority shareholders - Dividend - 31 March 2008 801,214 Currency translation differences - Loss on available-for-sale financial assets - Net gain on fair value of cash flow hedges - Transferred to consolidated income statement - Net direct movement in equity - Profit for the year - Total net income for the year - Disposal of minority interest - Dividend - 31 March 2009 801,214 Notes 1 to 38 form an integral part of the consolidated financial statements. Attributable to Emirates' Owner Minority Total Capital Reserves Total interest equity AED'000 AED'000 AED'000 AED'000 AED'000 12,239,145 13,040,359 129,599 14,796 14,796 (13,497) (13,497) - - 13,169,958 14,796 (13,497) (267,549) (267,549) (631) (268,180) (107,702) (107,702) - (107,702) (373,952) (373,952) (631) (374,583) 5,020,424 4,646,472 - 5,020,424 4,646,472 - 54,543 53,912 7,584 5,074,967 4,700,384 7,584 (1,000,000) (1,000,000) (35,056) (1,035,056) 15,885,617 16,686,831 156,039 (79,522) (79,522) - (175,366) (175,366) - 761,432 236,016 742,560 981,676 1,724,236 - 761,432 236,016 742,560 981,676 1,724,236 - 78 - 78 63,878 63,956 16,842,870 (79,522) (175,366) 761,510 236,016 742,638 1,045,554 1,788,192 (1,149) (1,149) (2,001,121) (2,001,121) (60,314) (2,061,435) 15,608,732 16,409,946 158,532 16,568,478
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Annual Report 2008-2009 The Emirate
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The Emirates Group Emirates is the
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4 The Emirates Group Chairman and C
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6 The Emirates Group Chairman and C
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8 The Emirates Group Executive Vice
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First Class Suite 10 Emirates Presi
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12 Emirates The Airline Emirates A3
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14 Emirates The Airline 15 Emirates
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Other firsts included: The implemen
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A series of relief charter flights
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In West Asia, the total number of f
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Page 32 and 33: coordination between them. This has
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Page 46 and 47: external agencies such as Dubai Imm
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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
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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 76 and 77: Consolidated cash flow statement fo
Page 78 and 79: 2. Summary of significant accountin
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Page 86 and 87: 4. Revenue (continued) Transport re
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Page 102 and 103: 27. Trade and other payables Trade
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Page 106 and 107: 34. Related party transactions The
Page 108 and 109: 35. Financial risk management Finan
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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
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8. Property, plant and equipment Co
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10. Investments in subsidiaries, as
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12. Trade and other receivables Tra
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14. Employee end of service benefit
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17. Trade and other payables Less t
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23. Related party transactions The
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24. Financial risk management Dnata
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24. Financial risk management (cont
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