Ryanair 2009 Annual Report Download - page 92

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92
Guarantees. Ryanair Holdings has provided an aggregate of €20.5 million in letters of guarantee to
secure obligations of certain of its subsidiaries in respect of loans and bank advances, including those relating to
aircraft financing and related hedging transactions. All of these guarantees are eliminated in the Company’s
consolidated balance sheet.
TREND INFORMATION
For information concerning the principal trends and uncertainties affecting the Company’s results of
operations and financial condition, see “Item 3. Key Information—Risk Factors,” “—Business Overview,” “—
Recent Operating Results,” “—Results of Operations,” “—Liquidity and Capital Resources” and “Item 4.
Information on the Company—Strategy—Responding to Current Challenges” above.
INFLATION
Inflation did not have a significant effect on the Company’s results of operations and financial
condition during the three fiscal years ended March 31, 2009.