annual report 2009 - Aer Lingus

Financial Statements Aer Lingus Group Plc – Annual Report 20097718 Derivative financial instruments [continued]Foreign exchange contractsThe notional principal amounts of the outstanding forward foreign exchange contracts at 31 December 2009 were €975.0m(2008: €1,251.1m).Cross-currency interest rate swapsThe notional principal amount of the outstanding cross-currency interest rate swap contract at 31 December 2009 was €20.2m(2008: €20.2m)At 31 December 2009 the fixed interest rates vary from 2.5% to 3.8% (2008: 2.5% to 3.8%).Aircraft fuel price contractsThe Group enters into derivative contracts to fix the price of its forecast aircraft fuel purchases. The notional principal amounts of theoutstanding contracts at 31 December 2009 were €292.0m (2008: €348.8m). The outstanding fuel price contracts at 31 December 2009amounted to 379,403 metric tonnes of aircraft fuel (2008: 541,917 metric tonnes).The maximum exposure to credit risk at the reporting date is the fair value of the derivative assets in the balance sheet.A charge for ineffectiveness of €0.7m is reflected in the income statement in 2009 (2008: €Nil).19 Inventories2009 2008€’000 €’000Sundry inventory 816 51420 Trade and other receivables2009 2008€’000 €’000Trade and other receivables 32,022 33,049Other amounts receivable 38,374 50,395Prepayments and accrued income 3,440 4,120Value Added Tax 1,999 1,33775,835 88,901The fair value of trade and other receivables approximate their book values.There is no geographical concentration of credit risk with respect to trade and other receivables as the Group has a large numberof customers who are internationally dispersed.The maximum exposure to credit risk at the reporting date is the fair value of each class of receivable mentioned above. The Groupdoes not hold any collateral as security.