Liquidity risk


Complex financial planning systems enable Lufthansa to identify its future liquidity position at an early stage. Based on the results of the Group strategy and planning processes, a monthly rolling liquidity plan is drawn up with a planning horizon of 24 months. This planning method offers an up-to-date picture of anticipated liquidity developments as regards the Company and currencies.

Lufthansa holds a liquidity reserve of at least EUR 2.3bn that is available at short notice. Furthermore, the Lufthansa Group held confirmed unused lines of credit totalling EUR 2.1bn (previous year: EUR 1.9bn) as of 31 December 2011.

A maturity analysis for the borrowing stated in “Note 39” and the derivative financial instruments listed in “Note 26”, based on undiscounted gross cash flows including the relevant interest payments, shows the following projected cash inflows and outflows from the perspective of the balance sheet date 31 December 2011. As a result of the hedges used there are generally direct connections between the cash inflows and outflows for the derivative financial instruments shown.

Derivative financial instruments

in €m

Inflows

Outflows

Net

*

Without payments in 1st quarter.

1st quarter

4,592

–4,469

123

Up to 1 year*

8,560

–8,431

129

1 – 5 years

9,781

–9,549

232

Later

627

–573

54

Non-derivative financial instruments

in €m

Outflows

*

Without payments in 1st quarter.

1st quarter

–415

Up to 1 year*

–410

1 – 5 years

–4,600

Later

–2,243

Downloads
Printing
Chart Generator
Chartgenerator

Compare key figures over several years. more