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v3.20.2

Financial instruments and financial risk management (Tables) | 12 Months Ended
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Mar. 31, 2020
Disclosure of detailed information about financial instruments [line items] |
Schedule of carrying value of financial assets by class and measurement category |
|  |  |  | Cash- |  | Total |  |
|  | Amortized |  | Flow |  | Carrying |  | Total Fair
|  | Cost |  | Hedges |  | Value |  | Value
|  | €M |  | €M |  | €M |  | €M
At March 31, 2020 |  |  |  |  |  |  |  |
Cash and cash equivalents |  | 2,566.4 |  | — |  | 2,566.4 |  | —
Financial asset: cash > 3 months |  | 1,207.2 |  | — |  | 1,207.2 |  | —
Restricted cash |  | 34.4 |  | — |  | 34.4 |  | —
Derivative financial instruments: |  |  |  |  |  |  |  |
- U.S. dollar currency forward contracts* |  | — |  | 663.7 |  | 663.7 |  | 663.7
- Cross-currency swaps |  | — |  | 8.0 |  | 8.0 |  | 8.0
- Jet fuel & carbon derivative contracts |  | — |  | — |  | — |  | —
Trade receivables |  | 67.5 |  | — |  | 67.5 |  | —
Other assets |  | 2.3 |  | — |  | 2.3 |  | —
Total financial assets at March 31, 2020 |  | 3,877.8 |  | 671.7 |  | 4,549.5 |  | 671.7
* Of the total carrying and fair value of U.S. dollar currency forward contracts, 17% (€109m) are ineffective as of March 31, 2020
|  |  |  | Cash- |  | Total |  |
|  | Amortized |  | Flow |  | Carrying |  | Total Fair
|  | Cost |  | Hedges |  | Value |  | Value
|  | €M |  | €M |  | €M |  | €M
At March 31, 2019 |  |  |  |  |  |  |  |
Cash and cash equivalents |  | 1,675.6 |  | — |  | 1,675.6 |  | —
Financial asset: cash > 3 months |  | 1,484.4 |  | — |  | 1,484.4 |  | —
Restricted cash |  | 34.9 |  | — |  | 34.9 |  | —
Derivative financial instruments: |  |  |  |  |  |  |  |
- U.S. dollar currency forward contracts |  | — |  | 527.7 |  | 527.7 |  | 527.7
- Interest rate swaps |  | — |  | 4.0 |  | 4.0 |  | 4.0
- Jet fuel derivative contracts |  | — |  | 4.5 |  | 4.5 |  | 4.5
Trade receivables |  | 59.5 |  | — |  | 59.5 |  | —
Other assets |  | 0.8 |  | — |  | 0.8 |  | —
Total financial assets at March 31, 2019 |  | 3,255.2 |  | 536.2 |  | 3,791.4 |  | 536.2
|  |  |  | Cash- |  | Total |  |
|  | Loans and |  | Flow |  | Carrying |  | Total Fair
|  | Receivables |  | Hedges |  | Value |  | Value
|  | €M |  | €M |  | €M |  | €M
At March 31, 2018 |  |  |  |  |  |  |  |
Cash and cash equivalents |  | 1,515.0 |  | — |  | 1,515.0 |  | —
Financial asset: cash > 3 months |  | 2,130.5 |  | — |  | 2,130.5 |  | —
Restricted cash |  | 34.6 |  | — |  | 34.6 |  | —
Derivative financial instruments: |  |  |  |  |  |  |  |
- U.S. dollar currency forward contracts |  | — |  | 4.6 |  | 4.6 |  | 4.6
- Interest rate swaps |  | — |  | 0.3 |  | 0.3 |  | 0.3
- Jet fuel derivative contracts |  | — |  | 209.8 |  | 209.8 |  | 209.8
Trade receivables |  | 57.6 |  | — |  | 57.6 |  | —
Other assets |  | 0.3 |  | — |  | 0.3 |  | —
Total financial assets at March 31, 2018 |  | 3,738.0 |  | 214.7 |  | 3,952.7 |  | 214.7
Schedule of carrying value of financial liabilities by class and measurement category |
|  | Liabilities at |  |  |  | Total |  |
|  | Amortized |  | Cash-Flow |  | Carrying |  | Total Fair
|  | Cost |  | Hedges |  | Value |  | Value
|  | €M |  | €M |  | €M |  | €M
At March 31, 2020 |  |  |  |  |  |  |  |
Current and non-current maturities of debt |  | 3,965.3 |  | — |  | 3,965.3 |  | 3,495.8
Derivative financial instruments: |  |  |  |  |  |  |  |
-U.S. dollar currency forward contracts |  | — |  | 2.2 |  | 2.2 |  | 2.2
-Jet fuel & carbon derivative contracts* |  | — |  | 1,228.3 |  | 1,228.3 |  | 1,228.3
-Interest rate swaps |  | — |  | — |  | — |  | —
Trade payables |  | 1,368.2 |  | — |  | 1,368.2 |  | —
Accrued expenses |  | 1,553.1 |  | — |  | 1,553.1 |  | —
Total financial liabilities at March 31, 2020 |  | 6,886.6 |  | 1,230.5 |  | 8,117.1 |  | 4,726.3
At March 31, 2019 |  |  |  |  |  |  |  |
Current and non-current maturities of debt |  | 3,644.4 |  | — |  | 3,644.4 |  | 3,725.3
Derivative financial instruments: |  |  |  |  |  |  |  |
-U.S. dollar currency forward contracts |  | — |  | 8.0 |  | 8.0 |  | 8.0
-Jet fuel derivative contracts |  | — |  | 189.7 |  | 189.7 |  | 189.7
-Interest rate swaps |  | — |  | — |  | — |  | —
Trade payables |  | 573.8 |  | — |  | 573.8 |  | —
Accrued expenses |  | 320.8 |  | — |  | 320.8 |  | —
Total financial liabilities at March 31, 2019 |  | 4,539.0 |  | 197.7 |  | 4,736.7 |  | 3,923.0
At March 31, 2018 |  |  |  |  |  |  |  |
Current and non-current maturities of debt |  | 3,963.0 |  | — |  | 3,963.0 |  | 4,061.0
Derivative financial instruments: |  |  |  |  |  |  |  |
-U.S. dollar currency forward contracts |  | — |  | 599.0 |  | 599.0 |  | 599.0
-Jet fuel derivative contracts |  | — |  | — |  | — |  | —
-Interest rate swaps |  | — |  | 7.0 |  | 7.0 |  | 7.0
Trade payables |  | 249.6 |  | — |  | 249.6 |  | —
Accrued expenses |  | 445.5 |  | — |  | 445.5 |  | —
Total financial liabilities at March 31, 2018 |  | 4,658.1 |  | 606.0 |  | 5,264.1 |  | 4,667.0
*Included in this amount is €516.5m no longer in hedge relationships.
Schedule of estimated fair values |
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | €M |  | €M |  | €M |  | €M
At March 31, 2020 |  |  |  |  |  |  |  |
Derivative assets measured at fair value for risk management purposes |  |  |  |  |  |  |  |
U.S. dollar currency forward contracts |  | — |  | 663.7 |  | — |  | 663.7
Jet fuel & carbon derivative contracts |  | — |  | — |  | — |  | —
Cross-currency swaps |  | — |  | 8.0 |  | — |  | 8.0
|  | — |  | 671.7 |  | — |  | 671.7
Derivative liabilities measured at fair value for risk management purposes |  |  |  |  |  |  |  |
U.S. currency forward contracts |  | — |  | 2.2 |  | — |  | 2.2
Jet fuel & carbon derivative contracts |  | — |  | 1,228.3 |  | — |  | 1,228.3
Interest rate swaps |  | — |  | — |  | — |  | —
|  | — |  | 1,230.5 |  | — |  | 1,230.5
Liabilities not measured at fair value |  |  |  |  |  |  |  |
Long-term debt |  | — |  | 3,495.8 |  | — |  | 3,495.8
|  | — |  | 5,398.0 |  | — |  | 5,398.0
During the year ended March 31, 2020, there were no transfers between Level 1 and Level 2 fair-value measurements, and no transfers into or out of Level 3 fair-value measurement.
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | €M |  | €M |  | €M |  | €M
At March 31, 2019 |  |  |  |  |  |  |  |
Derivative assets measured at fair value for risk management purposes |  |  |  |  |  |  |  |
U.S. dollar currency forward contracts |  | — |  | 527.7 |  | — |  | 527.7
Jet fuel derivative contracts |  | — |  | 4.5 |  | — |  | 4.5
Cross-currency swaps |  | — |  | 4.0 |  | — |  | 4.0
|  | — |  | 536.2 |  | — |  | 536.2
Derivative liabilities measured at fair value for risk management purposes |  |  |  |  |  |  |  |
U.S. currency forward contracts |  | — |  | 8.0 |  | — |  | 8.0
Jet fuel derivative contracts |  | — |  | 189.7 |  | — |  | 189.7
Interest rate swaps |  | — |  | — |  | — |  | —
|  | — |  | 197.7 |  | — |  | 197.7
Liabilities not measured at fair value |  |  |  |  |  |  |  |
Long-term debt |  | — |  | 3,725.3 |  | — |  | 3,725.3
|  | — |  | 4,459.2 |  | — |  | 4,459.2
During the year ended March 31, 2019, there were no transfers between Level 1 and Level 2 fair-value measurements, and no transfers into or out of Level 3 fair-value measurement.
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | €M |  | €M |  | €M |  | €M
At March 31, 2018 |  |  |  |  |  |  |  |
Derivative assets measured at fair value for risk management purposes |  |  |  |  |  |  |  |
U.S. dollar currency forward contracts |  | — |  | 4.6 |  | — |  | 4.6
Jet fuel derivative contracts |  | — |  | 209.8 |  | — |  | 209.8
Interest rate swaps |  | — |  | 0.3 |  | — |  | 0.3
|  | — |  | 214.7 |  | — |  | 214.7
Liabilities measured at fair value |  |  |  |  |  |  |  |
U.S. dollar currency forward contracts |  | — |  | 599.0 |  | — |  | 599.0
Jet fuel derivative contracts |  | — |  | — |  | — |  | —
Interest rate swaps |  | — |  | 7.0 |  | — |  | 7.0
|  | — |  | 606.0 |  | — |  | 606.0
Liabilities not measured at fair value |  |  |  |  |  |  |  |
Long-term debt |  | — |  | 4,061.0 |  | — |  | 4,061.0
|  | — |  | 4,881.7 |  | — |  | 4,881.7
During the year ended March 31, 2018, there were no transfers between Level 1 and Level 2 fair-value measurements, and no transfers into or out of Level 3 fair-value measurement.
Schedule of maturity profile of financial liabilities | The maturity profile of the Company’s financial liabilities (excluding aircraft provisions, trade payables and accrued expenses) at March 31, 2020 was as follows:
|  | Weighted |  |  |  |  |  |  |  |  |  |  |  |
|  | average |  |  |  |  |  |  |  |  |  |  |  |
|  | rate |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | Thereafter |  | Total
|  | (%) |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M
Fixed rate |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured long term debt |  | 2.48 | % | 63.8 |  | 65.4 |  | 63.0 |  | 52.2 |  | 12.1 |  | 256.5
Unsecured long term debt |  | 1.32 | % | 34.0 |  | 876.9 |  | 877.5 |  | 770.2 |  | 50.0 |  | 2,608.6
Long term debt |  | 1.42 | % | 97.8 |  | 942.3 |  | 940.5 |  | 822.4 |  | 62.1 |  | 2,865.1
Finance leases |  | 2.51 | % | 116.0 |  | — |  | — |  | — |  | — |  | 116.0
Lease liabilities - right of use |  | 2.47 | % | 75.0 |  | 51.6 |  | 52.1 |  | 46.0 |  | 21.2 |  | 245.9
Total fixed rate debt |  |  |  | 288.8 |  | 993.9 |  | 992.6 |  | 868.4 |  | 83.3 |  | 3,227.0
Floating rate |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured long term debt |  | 0.58 | % | 105.9 |  | 45.0 |  | 20.7 |  | — |  | 750.0 |  | 921.6
Finance leases |  | 1.19 | % | 62.6 |  | — |  | — |  | — |  | — |  | 62.6
Total floating rate debt |  | 0.62 | % | 168.5 |  | 45.0 |  | 20.7 |  | — |  | 750.0 |  | 984.2
Total financial liabilities |  |  |  | 457.3 |  | 1,038.9 |  | 1,013.3 |  | 868.4 |  | 833.3 |  | 4,211.2
All of the above debt maturing after 2024 will mature in fiscal year 2025. The maturity profile of the Company’s financial liabilities (excluding aircraft provisions, trade payables and accrued expenses) at March 31, 2019 was as follows:
|  | Weighted |  |  |  |  |  |  |  |  |  |  |  |
|  | average |  |  |  |  |  |  |  |  |  |  |  |
|  | rate |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | Thereafter |  | Total
|  | (%) |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M
Fixed rate |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured long term debt |  | 2.52 | % | 75.8 |  | 63.3 |  | 64.9 |  | 62.5 |  | 63.8 |  | 330.3
Unsecured long term debt |  | 1.30 | % | 34.0 |  | 34.0 |  | 876.9 |  | 877.5 |  | 819.7 |  | 2,642.1
Long term debt |  | 1.44 | % | 109.8 |  | 97.3 |  | 941.8 |  | 940.0 |  | 883.5 |  | 2,972.4
Finance leases |  | 2.54 | % | (2.8) |  | 116.0 |  | — |  | — |  | — |  | 113.2
Total fixed rate debt |  |  |  | 107.0 |  | 213.3 |  | 941.8 |  | 940.0 |  | 883.5 |  | 3,085.6
Floating rate |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured long term debt |  | 0.75 | % | 181.1 |  | 161.9 |  | 105.8 |  | 26.0 |  | — |  | 474.8
Finance leases |  | 1.27 | % | 21.4 |  | 62.6 |  | — |  | — |  | — |  | 84.0
Total floating rate debt |  | 0.83 | % | 202.5 |  | 224.5 |  | 105.8 |  | 26.0 |  | — |  | 558.8
Total financial liabilities |  |  |  | 309.5 |  | 437.8 |  | 1,047.6 |  | 966.0 |  | 883.5 |  | 3,644.4
All of the above debt maturing after 2023 will mature between fiscal year 2023 and fiscal year 2025. The maturity profile of the Company’s financial liabilities (excluding aircraft provisions, trade payables and accrued expenses) at March 31, 2018 was as follows:
|  | Weighted |  |  |  |  |  |  |  |  |  |  |  |
|  | average |  |  |  |  |  |  |  |  |  |  |  |
|  | rate |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | Thereafter |  | Total
|  | (%) |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M
Fixed rate |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured long term debt |  | 2.56 | % | 84.8 |  | 59.9 |  | 46.9 |  | 48.1 |  | 110.7 |  | 350.4
Unsecured long term debt |  | 1.33 | % | 24.0 |  | 24.0 |  | 24.0 |  | 867.0 |  | 1,627.7 |  | 2,566.7
Debt swapped from floating to fixed |  | 0.37 | % | 14.0 |  | 14.4 |  | 14.9 |  | 15.3 |  | 15.8 |  | 74.4
Long term debt after swaps |  | 1.45 | % | 122.8 |  | 98.3 |  | 85.8 |  | 930.4 |  | 1,754.2 |  | 2,991.5
Finance leases |  | 2.97 | % | 66.6 |  | (2.8) |  | 115.5 |  | — |  | — |  | 179.3
Total fixed rate debt |  |  |  | 189.4 |  | 95.5 |  | 201.3 |  | 930.4 |  | 1,754.2 |  | 3,170.8
Floating rate |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured long term debt |  |  |  | 196.4 |  | 193.4 |  | 174.6 |  | 118.8 |  | 36.5 |  | 719.7
Debt swapped from floating to fixed |  |  |  | (14.0) |  | (14.4) |  | (14.9) |  | (15.3) |  | (15.8) |  | (74.4)
Secured long term debt after swaps |  | 0.85 | % | 182.4 |  | 179.0 |  | 159.7 |  | 103.5 |  | 20.7 |  | 645.3
Finance leases |  | 1.14 | % | 62.8 |  | 21.5 |  | 62.6 |  | — |  | — |  | 146.9
Total floating rate debt |  | 0.90 | % | 245.2 |  | 200.5 |  | 222.3 |  | 103.5 |  | 20.7 |  | 792.2
Total financial liabilities |  |  |  | 434.6 |  | 296.0 |  | 423.6 |  | 1,033.9 |  | 1,774.9 |  | 3,963.0
Schedule of analysis of changes in borrowings |
|  | At March 31,
|  | 2020 |  | 2019 |  | 2018
|  | €M |  | €M |  | €M
Balance at start of year |  | 3,644.4 |  | 3,963.0 |  | 4,384.5
Cash items |  |  |  |  |  |
Loans raised for general corporate purposes– euro |  | 750.0 |  | 99.9 |  | 65.2
Repayments of amounts borrowed |  | (408.1) |  | (422.8) |  | (458.9)
Lease Liabilities |  | 245.9 |  | — |  | —
Non-cash items |  |  |  |  |  |
Foreign exchange (gain)/loss on conversion of U.S. dollar loans |  | (21.0) |  | 4.3 |  | (27.8)
Balance at end of year |  | 4,211.2 |  | 3,644.4 |  | 3,963.0
Less than one year |  | 457.3 |  | 309.4 |  | 434.6
More than one year |  | 3,753.9 |  | 3,335.0 |  | 3,528.4
|  | 4,211.2 |  | 3,644.4 |  | 3,963.0
Schedule of maturities of contractual cash flows of financial liabilities |
|  | Total |  | Total |  |  |  |  |  |  |  |  |  |
|  | Carrying |  | Contractual |  |  |  |  |  |  |  |  |  |
|  | Value |  | Cash flows |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | Thereafter
At March 31, 2020 |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M
Long term debt and leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Fixed rate debt 1.42% |  | 2,981.1 |  | 3,089.8 |  | 253.8 |  | 980.6 |  | 961.1 |  | 832.0 |  | 62.3
- Floating rate debt 0.62% |  | 984.2 |  | 1,006.5 |  | 174.6 |  | 50.1 |  | 25.7 |  | 4.9 |  | 751.2
- Lease liabilities - IFRS16 |  | 245.9 |  | 245.9 |  | 75.0 |  | 51.6 |  | 52.1 |  | 46.0 |  | 21.2
|  | 4,211.2 |  | 4,342.2 |  | 503.4 |  | 1,082.3 |  | 1,038.9 |  | 882.9 |  | 834.7
Derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Currency forward contracts |  | 2.2 |  | 2.2 |  | 2.2 |  | — |  | — |  | — |  | —
- Commodity forward contracts |  | 1,228.3 |  | 1,228.3 |  | 1,047.8 |  | 180.5 |  | — |  | — |  | —
Trade payables |  | 1,368.2 |  | 1,368.2 |  | 1,368.2 |  | — |  | — |  | — |  | —
Accrued expenses |  | 1,553.1 |  | 1,553.1 |  | 1,553.1 |  | — |  | — |  | — |  | —
Total at March 31, 2020 |  | 8,363.0 |  | 8,494.0 |  | 4,474.7 |  | 1,262.8 |  | 1,038.9 |  | 882.9 |  | 834.7
|  | Total |  | Total |  |  |  |  |  |  |  |  |  |
|  | Carrying |  | Contractual |  |  |  |  |  |  |  |  |  |
|  | Value |  | Cash flows |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | Thereafter
At March 31, 2019 |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M
Long term debt and finance leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |
-Fixed rate debt 1.48% |  | 3,085.6 |  | 3,242.0 |  | 151.6 |  | 256.0 |  | 980.1 |  | 960.6 |  | 893.7
-Floating rate debt 0.83% |  | 558.8 |  | 562.3 |  | 204.8 |  | 226.5 |  | 105.3 |  | 25.7 |  | —
|  | 3,644.4 |  | 3,804.3 |  | 356.4 |  | 482.5 |  | 1,085.4 |  | 986.3 |  | 893.7
Derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Currency forward contracts |  | 8.0 |  | 8.0 |  | — |  | — |  | 0.6 |  | 4.6 |  | 2.8
- Commodity forward contracts |  | 189.7 |  | 189.7 |  | 189.7 |  | — |  | — |  | — |  | —
Trade payables |  | 573.8 |  | 573.8 |  | 573.8 |  | — |  | — |  | — |  | —
Accrued expenses |  | 320.8 |  | 320.8 |  | 320.8 |  | — |  | — |  | — |  | —
Total at March 31, 2019 |  | 4,736.7 |  | 4,896.6 |  | 1,440.7 |  | 482.5 |  | 1,086.0 |  | 990.9 |  | 896.5
|  | Total |  | Total |  |  |  |  |  |  |  |  |  |
|  | Carrying |  | Contractual |  |  |  |  |  |  |  |  |  |
|  | Value |  | Cash flows |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | Thereafter
At March 31, 2018 |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M
Long term debt and finance leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |
-Fixed rate debt (excluding swapped debt) |  | 3,096.4 |  | 3,144.9 |  | 178.2 |  | 82.3 |  | 189.3 |  | 929.4 |  | 1,765.7
-Swapped to fixed rate debt |  | 74.4 |  | 74.7 |  | 14.1 |  | 14.5 |  | 15.0 |  | 15.4 |  | 15.7
- Fixed rate debt 1.54% |  | 3,170.8 |  | 3,219.6 |  | 192.3 |  | 96.8 |  | 204.3 |  | 944.8 |  | 1,781.4
- Floating rate debt 0.90% |  | 792.2 |  | 799.3 |  | 247.4 |  | 202.3 |  | 224.3 |  | 104.4 |  | 20.9
|  | 3,963.0 |  | 4,018.9 |  | 439.7 |  | 299.1 |  | 428.6 |  | 1,049.2 |  | 1,802.3
Derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Interest rate swaps |  | 7.0 |  | 6.5 |  | 2.3 |  | 1.3 |  | 1.0 |  | 0.8 |  | 1.1
- Currency forward contracts |  | 599.0 |  | 599.0 |  | 189.5 |  | 105.6 |  | 83.1 |  | 99.7 |  | 121.1
- Commodity forward contracts |  | — |  | — |  | — |  | — |  | — |  | — |  | —
Trade payables |  | 249.6 |  | 249.6 |  | 249.6 |  | — |  | — |  | — |  | —
Accrued expenses |  | 445.5 |  | 445.5 |  | 445.5 |  | — |  | — |  | — |  | —
Total at March 31, 2018 |  | 5,264.1 |  | 5,319.5 |  | 1,326.6 |  | 406.0 |  | 512.7 |  | 1,149.7 |  | 1,924.5
Schedule of significant cash balances invested on short term basis |
|  | March 31, 2020 |  | March 31, 2019 |  | March 31, 2018
|  | Within |  |  |  | Within |  |  |  | Within |  |
|  | 1 year |  | Total |  | 1 year |  | Total |  | 1 year |  | Total
Financial assets |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M
Cash and cash equivalents |  | 2,566.4 |  | 2,566.4 |  | 1,675.6 |  | 1,675.6 |  | 1,515.0 |  | 1,515.0
Cash > 3 months |  | 1,207.2 |  | 1,207.2 |  | 1,484.4 |  | 1,484.4 |  | 2,130.5 |  | 2,130.5
Restricted cash |  | 34.4 |  | 34.4 |  | 34.9 |  | 34.9 |  | 34.6 |  | 34.6
Total financial assets |  | 3,808.0 |  | 3,808.0 |  | 3,194.9 |  | 3,194.9 |  | 3,680.1 |  | 3,680.1
Schedule of monetary assets |
|  | March 31, 2020 |  | March 31, 2019 |  | March 31, 2018 |
|  |  |  |  |  | euro |  |  |  |  |  | euro |  |  |  |  |  | euro
|  | GBP |  | U.S.$ |  | equiv. |  | GBP |  | U.S.$ |  | equiv. |  | GBP |  | U.S.$ |  | equiv.
|  | £M |  | $M |  | €M |  | £M |  | $M |  | €M |  | £M |  | $M |  | €M
Monetary assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.K. pounds sterling cash and liquid resources |  | 22.5 |  | — |  | 25.3 |  | 17.0 |  | — |  | 19.6 |  | 12.2 |  | — |  | 13.9
U.S. Dollar cash and liquid resources |  | — |  | 2,150.1 |  | 1,949.5 |  | — |  | 485.2 |  | 432.5 |  | — |  | 168.0 |  | 136.3
|  | 22.5 |  | 2,150.1 |  | 1,974.8 |  | 17.0 |  | 485.2 |  | 452.1 |  | 12.2 |  | 168.0 |  | 150.2
Schedule of monetary liabilities |
|  | March 31, 2020 |  | March 31, 2019 |  | March 31, 2018
|  |  |  | euro |  |  |  | euro |  |  |  | euro
|  | U.S.$ |  | equiv. |  | U.S.$ |  | equiv. |  | U.S.$ |  | equiv.
|  | $M |  | €M |  | $M |  | €M |  | $M |  | €M
Monetary liabilities |  |  |  |  |  |  |  |  |  |  |  |
U.S. dollar long term debt |  | 129.2 |  | 117.1 |  | 202.4 |  | 180.5 |  | 246.1 |  | 199.8
Pre-delivery aircraft payables |  | 1,051.8 |  | 957.6 |  | — |  | — |  | — |  | —
|  | 1,181.0 |  | 1,074.7 |  | 202.4 |  | 180.5 |  | 246.1 |  | 199.8
Schedule of notional amounts of currency forward contract |
|  | Within 1 Year |  | Greater than 1 Year |  | Total
|  | €M |  | €M |  | €M
Notional amounts |  |  |  |  |  |
Forward foreign exchange contracts |  | 3,670.9 |  | 4,075.7 |  | 7,746.6
Commodity forward contracts |
Disclosure of detailed information about financial instruments [line items] |
Schedule of estimated fair values |
|  | At March 31,
|  | 2020 |  | 2019 |  | 2018
|  | €M |  | €M |  | €M
Jet fuel forward contracts – fair value |  | (1,228.3) |  | (185.2) |  | 209.8

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