Ryanair 2006 Annual Report Download - page 53

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(Continued)
Notes 53
ANNUAL REPORT & FINANCIAL STATEMENTS 2006
15 FINANCIAL INSTRUMENTS (Continued)
Group: (Continued)
(c) Foreign currency risk (Continued)
The following table shows the net amount of monetary assets of the group that are not denominated in Euro at March 31, 2006 and
March 31, 2005 and have been translated using the following year end foreign currency rates: 2006 GBP to EUR 0.6964, USD to EUR
1.2104 (2005: EUR to GBP 0.6885, EUR to USD 1.2964)
2006 2005
GBP US$ Euro Equiv GBP US$ Euro Equiv
MONETARY ASSETS £000 $000 000 £000 $000 000
GBP cash and liquid resources 79,424 - 114,049 39,824 - 57,842
USD cash and liquid resources - 54,839 45,307 - 5,900 4,551
79,424 54,839 159,356 39,824 5,900 62,393
All of the group's financial liabilities are denominated in Euro.
The group also enters into US dollar and Sterling currency forward contracts in order to manage currency risk which arises on its
forecasted aircraft payments, fuel, maintenance and aviation insurance costs, which are primarily denominated in US dollars and
certain of its revenue income streams, which arise in Sterling. See further details in note 3.
The following table gives details of the notional amounts of the group’s currency forward contracts as at March 31, 2006 and at March
31, 2005:
2006 2005
GBP US$ Euro Equiv GBP US$ Euro Equiv
CURRENCY FORWARD CONTRACTS £000 $000 000 £000 $000 000
US dollar currency forward contracts
- for aircraft purchases - 480,000 384,268 - 425,000 324,676
- for fuel and other purchases - 592,923 470,775 - 332,713 256,450
GBP currency forward contracts
- for other airline costs 37,039 - 53,044 31,682 - 44,905
37,039 1,072,923 908,087 31,682 757,713 626,031