EasyJet 2011 Annual Report Download - page 23

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easyJet plc
Annual report
and accounts 2011
Overview Business review Performance and risk Corporate responsibility Governance Accounts & other information
21
Exchange rates
Capacity growth in the year of 6.5 million seats flown,
around two-thirds was deployed in bases outside the
UK, resulting in the following exposures to foreign
currency:
Revenue Costs
2011 2010 2011 2010
Sterling 47% 48% 24% 27%
Euro 44% 44% 35% 34%
US dollar ––35% 33%
Other
(principally Swiss franc) 9% 8% 6% 6%
Average exchange rates
2011 2010 Change
Euro €1.15 €1.15 nil
US dollar
(sterling weaker) $1.61 $1.64 -1.8%
Swiss franc
(sterling weaker)
CHF
1.45
CHF
1.64 -11.6%
Although a substantial proportion of both revenue and
costs is denominated in euros, there was no change
year-on-year in the euro exchange rate, and hence no
impact on the reported result. The impact of changes
in the Swiss franc and US dollar were.
Favourable / (adverse)
Swiss franc US dollar Total
£ million £ million £ million
Revenue 24 – 24
Fuel – (17) (17)
Costs excluding fuel (21) (8) (29)
Total 3 (25) (22)
A euro 35%
B sterling 24%
C US dollar 35%
D other (principally
swiss franc) 6%
A
C
B
2011 currency split
Total costs
D
A euro 44%
B sterling 47%
C other (principally
swiss franc) 9%
A
C
B
2011 currency split
Total revenue
Example only. Not a current offer.