Ryanair 2011 Annual Report Download - page 95
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93
Obligations Due by Period
Contractual Obligations
Total
Less than 1
year
1
-
2 years
2
-
5 years
After 5
years
(millions)
Long
-
term Debt (a)
...........................
12,802.2
1288.0
1295.8
1912.1
11,306.3
Finance Lease Obligations ...............
847.2
48.8
51.0
211.7
535.7
Purchase Obligations
........................
1,433.5
895.9
537.6
—
—
Operating Lease Obligations ...........
590.5 100.2 136.5 189.0 164.8
Total Contractual Obligations ..........
15,673.4 11,332.9 11,020.9 11,312.8 12,006.8
______________
(a) For additional information on Ryanair’s long-term debt obligations, see Note 11 to the consolidated financial
statements included in Item 18.
OFF-BALANCE SHEET TRANSACTIONS
Ryanair uses certain off-balance sheet arrangements in the ordinary course of business, including
financial guarantees and operating lease commitments. Details of each of these arrangements that have or are
reasonably likely to have a current or future material effect on the Company’s financial condition, results of
operations, liquidity or capital resources are discussed below.
Operating Lease Commitments. The Company has entered into a number of sale-and-leaseback
transactions in connection with the financing of a number of aircraft in its fleet. See “—Liquidity and Capital
Resources—Capital Resources” above for additional information on these transactions.
Guarantees. Ryanair Holdings has provided an aggregate of 15,349.6 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, 2011.
Item 6. Directors, Senior Management and Employees
Ryanair Holdings was established in 1996 as a holding company for Ryanair. The management of
Ryanair Holdings and Ryanair are integrated, with the two companies having the same directors and executive
officers.