"Perspectives 2011" - Sustainability and Annual Report (pdf)
"Perspectives 2011" - Sustainability and Annual Report (pdf)
"Perspectives 2011" - Sustainability and Annual Report (pdf)
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Introduction Company profile <strong>and</strong> strategyService portfolio Communication <strong>and</strong> social responsibilityThe market values of all interest derivatives <strong>and</strong> forwardexchange transactions are those quoted by thecounterparties (banks) <strong>and</strong> are determined accordingto current interest structure charts <strong>and</strong> the discountedcash flow method.Risk Underlying transaction Hedging instrument Hedge typeType Type Amount Risk AmountProspectiveeffectivenessCurrencyContracted cashflowYen loan¥6 billion(€43.6 million)Yen forwardsale¥6 billion Micro hedge Critical termmatchCurrencyAnticipated cashflowConsultingm<strong>and</strong>ate,invoiced inOmani rialsOMR3.6 millionDollar forwardsales 1US$9.4 millionMicro hedgeCritical termmatchInterestContracted cashflowVariable-interestloans€500 million Payer swaps €500 million Micro hedge Critical termmatchInterestContracted cashflowVariable-interestloans€726 million Payer swaps €726 million Micro hedge Critical termmatchInterestContracted cashflowVariable-interestloans€29.4 million Payer swaps €29.4 million Micro hedge Critical termmatch1Forward sales in US dollars were made on account of non-liquid hedging instruments in Omani rials.The Omani rial has a fixed parity with the US dollar.4. Auditors’ remunerationIn fiscal 2011, the auditors of the Group’s financialstatements received €90 thous<strong>and</strong> for auditing <strong>and</strong>€95 thous<strong>and</strong> for other services.5. Business with related parties (persons<strong>and</strong> companies) as defined in the GermanCommercial CodeUnder Section 314, Paragraph 1, Item 13 of the GermanCommercial Code, related parties (companies<strong>and</strong> persons) are legal or natural persons who are ableto exert an influence on Flughafen München GmbHor who are controlled by or are subject to significantinfluence by Flughafen München GmbH.Business with related parties largely consists ofdealings conducted with subsidiaries <strong>and</strong> affiliatedcompanies. These business dealings relate for themost part to rentals, services <strong>and</strong> finance. Such businessis conducted on a regular basis <strong>and</strong> on markettypicalterms.No business dealings are conducted at market-atypicalprices.144
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