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Financial instruments - Fair values and risk management (Tables) | 12 Months Ended
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Mar. 31, 2025
Financial instruments - Fair values and risk management |
Schedule of carrying value of financial assets by class and measurement category | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Assets at | ​ | Cash- | ​ | Fair value | ​ | Total | ​ | ​
​ | ​ | Amortized | ​ | Flow | ​ | through | ​ | Carrying | ​ | Total Fair
​ | ​ | Cost | ​ | Hedges | ​ | Profit & Loss | ​ | Value | ​ | Value
​ |  | €M |  | €M | ​ | €M |  | €M |  | €M
At March 31, 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents |  | 3,863.3 |  | — | ​ | — |  | 3,863.3 |  | ​
Financial asset: cash > 3 months |  | 100.1 |  | — | ​ | — |  | 100.1 |  | ​
Restricted cash |  | 23.1 |  | — | ​ | — |  | 23.1 |  | ​
Derivative financial instruments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
- U.S. dollar currency forward contracts |  | — |  | 90.2 | ​ | — |  | 90.2 |  | 90.2
- Jet fuel & carbon derivative contracts |  | — |  | 19.6 | ​ | — |  | 19.6 |  | 19.6
Trade receivables |  | 73.5 |  | — | ​ | — |  | 73.5 |  | ​
Total financial assets at March 31, 2025 |  | 4,060.0 |  | 109.8 | ​ | — |  | 4,169.8 |  | 109.8
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Assets at | ​ | Cash- | ​ | Fair value | ​ | Total | ​ | ​
​ | ​ | Amortized | ​ | Flow | ​ | through | ​ | Carrying | ​ | Total Fair
​ | ​ | Cost | ​ | Hedges | ​ | Profit & Loss | ​ | Value | ​ | Value
​ |  | €M |  | €M | ​ | €M |  | €M |  | €M
At March 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents |  | 3,875.4 |  | — | ​ | — |  | 3,875.4 |  | ​
Financial asset: cash > 3 months |  | 237.8 |  | — | ​ | — |  | 237.8 |  | ​
Restricted cash |  | 6.4 |  | — | ​ | — |  | 6.4 |  | ​
Derivative financial instruments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
- U.S. dollar currency forward contracts |  | — |  | 147.2 | ​ | — |  | 147.2 |  | 147.2
- Jet fuel & carbon derivative contracts | ​ | — |  | 205.6 | ​ | — |  | 205.6 |  | 205.6
- Jet fuel options | ​ | — |  | — | ​ | — |  | — |  | ​
- Cross-currency swaps |  | — |  | — | ​ | — |  | — |  | ​
Trade receivables |  | 76.4 |  | — | ​ | — |  | 76.4 |  | ​
Total financial assets at March 31, 2024 |  | 4,196.0 |  | 352.8 | ​ | — |  | 4,548.8 |  | 352.8
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Assets at | ​ | Cash- | ​ | Fair value | ​ | Total | ​ | ​
​ | ​ | Amortized | ​ | Flow | ​ | through | ​ | Carrying | ​ | Total Fair
​ |  | Cost |  | Hedges | ​ | Profit & Loss |  | Value |  | Value
​ |  | €M |  | €M | ​ | €M |  | €M |  | €M
At March 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Cash and cash equivalents |  | 3,599.3 |  | — | ​ | — |  | 3,599.3 |  | ​
Financial asset: cash > 3 months |  | 1,056.2 |  | — | ​ | — |  | 1,056.2 |  | ​
Restricted cash |  | 19.5 |  | — | ​ | — |  | 19.5 |  | ​
Derivative financial instruments: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
- U.S. dollar currency forward contracts |  | — |  | 279.4 | ​ | — |  | 279.4 |  | 279.4
- Jet fuel & carbon derivative contracts | ​ | — |  | 49.6 | ​ | — |  | 49.6 |  | 49.6
- Jet fuel options | ​ | — |  | 14.1 | ​ | — |  | 14.1 |  | 14.1
- Cross-currency swaps | ​ | — |  | 3.6 | ​ | — |  | 3.6 |  | 3.6
Trade receivables |  | 59.7 |  | — | ​ | — |  | 59.7 |  | ​
Total financial assets at March 31, 2023 |  | 4,734.7 |  | 346.7 | ​ | — |  | 5,081.4 |  | 346.7
Schedule of carrying value of financial liabilities by class and measurement category | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Liabilities at | ​ | ​ | ​ | Fair value | ​ | Total | ​ | ​
​ | ​ | Amortized | ​ | Cash-Flow | ​ | through | ​ | Carrying | ​ | Total Fair
​ | ​ | Cost | ​ | Hedges | ​ | Profit & Loss | ​ | Value | ​ | Value
​ |  | €M |  | €M | ​ | €M |  | €M |  | €M
At March 31, 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current maturities of debt |  | 848.4 | ​ | — | ​ | — | ​ | 848.4 | ​ | 850.3
Non-current maturities of debt | ​ | 1,685.2 | ​ | — | ​ | — | ​ | 1,685.2 | ​ | 1,661.4
Derivative financial instruments: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
-U.S. dollar currency forward contracts |  | — | ​ | 2.7 | ​ | — | ​ | 2.7 | ​ | 2.7
-Jet fuel & carbon derivative contracts |  | — | ​ | 224.5 | ​ | — | ​ | 224.5 | ​ | 224.5
Trade payables (Current) | ​ | 702.0 | ​ | — | ​ | — | ​ | 702.0 | ​ | ​
Accrued expenses |  | 1,953.5 | ​ | — | ​ | — | ​ | 1,953.5 | ​ | ​
Lease liabilities - right of use | ​ | 149.1 | ​ | — | ​ | — | ​ | 149.1 | ​ | ​
Total financial liabilities at March 31, 2025 |  | 5,338.2 |  | 227.2 | ​ | — |  | 5,565.4 |  | 2,738.9
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Liabilities at | ​ | ​ | ​ | Fair value | ​ | Total | ​ | ​
​ | ​ | Amortized | ​ | Cash-Flow | ​ | through | ​ | Carrying | ​ | Total Fair
​ | ​ | Cost | ​ | Hedges | ​ | Profit & Loss | ​ | Value | ​ | Value
​ | ​ | €M |  | €M | ​ | €M |  | €M |  | €M
At March 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current maturities of debt |  | 50.0 | ​ | — | ​ | — | ​ | 50.0 | ​ | 50.0
Non-current maturities of debt | ​ | 2,532.2 | ​ | — | ​ | — | ​ | 2,532.2 | ​ | 2,460.3
Derivative financial instruments: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
-U.S. dollar currency forward contracts |  | — | ​ | 3.3 | ​ | — | ​ | 3.3 | ​ | 3.3
-Jet fuel & carbon derivative contracts |  | — | ​ | 178.8 | ​ | — | ​ | 178.8 | ​ | 178.8
Trade payables (Current) |  | 792.2 | ​ | — | ​ | — | ​ | 792.2 | ​ | ​
Accrued expenses |  | 1,603.1 | ​ | — | ​ | — | ​ | 1,603.1 | ​ | ​
Lease liabilities - right of use | ​ | 164.6 | ​ | — | ​ | — | ​ | 164.6 | ​ | ​
Total financial liabilities at March 31, 2024 |  | 5,142.1 |  | 182.1 | ​ | — |  | 5,324.2 |  | 2,692.4
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Liabilities at | ​ | ​ | ​ | Fair value | ​ | Total | ​ | ​
​ | ​ | Amortized | ​ | Cash-Flow | ​ | through | ​ | Carrying | ​ | Total Fair
​ | ​ | Cost | ​ | Hedges | ​ | Profit & Loss | ​ | Value | ​ | Value
​ | ​ | €M |  | €M | ​ | €M |  | €M |  | €M
At March 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current maturities of debt |  | 1,056.7 |  | — | ​ | — |  | 1,056.7 |  | 1,051.7
Non-current maturities of debt | ​ | 2,853.2 | ​ | — | ​ | — |  | 2,853.2 |  | 2,740.7
Derivative financial instruments: |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​
-U.S. dollar currency forward contracts |  | — |  | 48.0 | ​ | — |  | 48.0 |  | 48.0
-Jet fuel & carbon derivative contracts |  | — |  | 349.8 | ​ | — |  | 349.8 |  | 349.8
Trade payables (Current) |  | 1,065.5 |  | — | ​ | — |  | 1,065.5 |  | ​
Trade payables (Non-current) | ​ | — | ​ | — | ​ | — | ​ | — | ​ | ​
Accrued expenses |  | 1,276.6 |  | — | ​ | — |  | 1,276.6 |  | ​
Lease liabilities - right of use | ​ | 206.3 | ​ | — | ​ | — | ​ | 206.3 | ​ | ​
Total financial liabilities at March 31, 2023 |  | 6,458.3 |  | 397.8 | ​ | — |  | 6,856.1 |  | 4,190.2
Schedule of estimated fair values | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Total
​ |  | €M |  | €M |  | €M |  | €M
At March 31, 2025 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative assets measured at fair value for risk management purposes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. dollar currency forward contracts |  | — |  | 90.2 |  | — |  | 90.2
Jet fuel & carbon derivative contracts |  | — |  | 19.6 |  | — |  | 19.6
​ |  | — |  | 109.8 |  | — |  | 109.8
Derivative liabilities measured at fair value for risk management purposes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. currency forward contracts |  | — |  | 2.7 |  | — |  | 2.7
Jet fuel & carbon derivative contracts |  | — |  | 224.5 |  | — |  | 224.5
​ |  | — |  | 227.2 |  | — |  | 227.2
Financial liabilities not measured at fair value | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Debt |  | — |  | 2,511.7 |  | — |  | 2,511.7
​ | ​ | — | ​ | 2,511.7 | ​ | — | ​ | 2,511.7
Total |  | — |  | 2,848.7 |  | — |  | 2,848.7
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Total
​ |  | €M |  | €M |  | €M |  | €M
At March 31, 2024 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative assets measured at fair value for risk management purposes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. dollar currency forward contracts |  | — |  | 147.2 |  | — |  | 147.2
Cross-currency swaps |  | — |  | — |  | — |  | —
Jet fuel & carbon derivative contracts |  | — |  | 205.6 |  | — |  | 205.6
​ |  | — |  | 352.8 |  | — |  | 352.8
Derivative liabilities measured at fair value for risk management purposes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. currency forward contracts |  | — |  | 3.3 |  | — |  | 3.3
Jet fuel & carbon derivative contracts |  | — |  | 178.8 |  | — |  | 178.8
​ |  | — |  | 182.1 |  | — |  | 182.1
Financial liabilities not measured at fair value | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Debt |  | — |  | 2,510.3 |  | — |  | 2,510.3
​ | ​ | — | ​ | 2,510.3 | ​ | — | ​ | 2,510.3
Total |  | — |  | 3,045.2 |  | — |  | 3,045.2
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Total
​ |  | €M |  | €M |  | €M |  | €M
At March 31, 2023 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative assets measured at fair value for risk management purposes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. dollar currency forward contracts |  | — |  | 279.4 |  | — |  | 279.4
Jet fuel & carbon derivative contracts |  | — |  | 63.7 |  | — |  | 63.7
Cross-currency swaps |  | — |  | 3.6 |  | — |  | 3.6
​ |  | — |  | 346.7 |  | — |  | 346.7
Derivative liabilities measured at fair value for risk management purposes | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. currency forward contracts |  | — |  | 48.0 |  | — |  | 48.0
Jet fuel & carbon derivative contracts |  | — |  | 349.8 |  | — |  | 349.8
​ |  | — |  | 397.8 |  | — |  | 397.8
Financial liabilities not measured at fair value | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Debt | ​ | — |  | 3,792.4 |  | — |  | 3,792.4
​ | ​ | — | ​ | 3,792.4 | ​ | — | ​ | 3,792.4
Total |  | — |  | 4,536.9 |  | — |  | 4,536.9
Schedule of monetary assets | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At March 31,
​ | ​ | 2025 | ​ | 2024 | ​ | 2023
​ | ​ | GBP | ​ | U.S.$ | ​ | Euro € | ​ | GBP | ​ | U.S.$ | ​ | Euro € | ​ | GBP | ​ | U.S.$ | ​ | Euro €
​ |  | £M |  | $M |  | €M |  | £M |  | $M |  | €M |  | £M |  | $M |  | €M
Monetary assets | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
UK pounds sterling cash and liquid resources |  | 90.5 | ​ | — | ​ | 108.1 |  | 55.6 | ​ | — |  | 65.1 |  | 78.1 | ​ | — |  | 88.8
U.S. Dollar cash and liquid resources |  | — | ​ | 737.6 | ​ | 681.9 |  | — | ​ | 785.5 |  | 727.8 |  | — | ​ | 671.3 |  | 619.3
​ |  | 90.5 | ​ | 737.6 |  | 790.0 |  | 55.6 | ​ | 785.5 |  | 792.9 |  | 78.1 | ​ | 671.3 |  | 708.1
Schedule of monetary liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At March 31,
​ | ​ | 2025 | ​ | 2024 | ​ | 2023
​ | ​ | GBP | ​ | U.S.$ | ​ | Euro € | ​ | GBP | ​ | U.S.$ | ​ | Euro € | ​ | GBP | ​ | U.S.$ | ​ | Euro €
​ |  | £M | ​ | $M |  | €M |  | £M | ​ | $M |  | €M |  | £M | ​ | $M |  | €M
Monetary liabilities | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. dollar long term debt* | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 280.8 | ​ | 259.1
Pre-delivery payments due to Boeing | ​ | — | ​ | 215.0 | ​ | 198.8 | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 669.2 | ​ | 617.4
​ | ​ | — | ​ | 215.0 |  | 198.8 | ​ | — | ​ | — |  | — | ​ | — | ​ | 950.0 |  | 876.5
​ *During the FY22, the Group issued non-interest-bearing promissory notes to the value of approximately €230m (U.S.$250m) in settlement of certain aircraft trade payables. These were non-cash settled in full during FY24.
Schedule of exchange rates | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | € | ​ | £ | ​ | $
March 31, 2023 | ​ | 1.0000 | ​ | 0.8791 | ​ | 1.0839
March 31, 2024 | ​ | 1.0000 | ​ | 0.8548 | ​ | 1.0793
March 31, 2025 | ​ | 1.0000 | ​ | 0.8371 | ​ | 1.0817
Schedule of notional amounts of currency forward contracts | The notional principal amounts of forward foreign exchange contracts are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At March 31,
​ | ​ | 2025 | ​ | 2024 | ​ | 2023
​ | ​ | €M | ​ | €M | ​ | €M
Within Year 1 | ​ | 4,299.3 | ​ | 4,403.6 | ​ | 5,873.1
Greater than 1 Year | ​ | 1,141.2 | ​ | 447.9 | ​ | 1,203.5
Total | ​ | 5,440.5 | ​ | 4,851.5 | ​ | 7,076.6
Schedule of maturity profile of financial liabilities | The following was the maturity profile of the Group’s financial liabilities (excluding aircraft provisions, trade payables and accrued expenses). ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | average | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2030 - | ​ | ​
​ | ​ | rate | ​ | 2026 | ​ | 2027 | ​ | 2028 | ​ | 2029 | ​ | 2031 | ​ | Total
At March 31, 2025 |  | (%) |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M
Fixed rate |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured debt |  | 1.70% | ​ | 848.4 | ​ | 1,196.3 | ​ | — | ​ | — | ​ | — | ​ | 2,044.7
Debt |  | 1.70% | ​ | 848.4 | ​ | 1,196.3 | ​ | — | ​ | — | ​ | — | ​ | 2,044.7
Lease liabilities - right of use | ​ | 4.89% | ​ | 37.4 | ​ | 37.9 | ​ | 38.8 | ​ | 27.1 | ​ | 7.9 | ​ | 149.1
Total fixed rate debt |  | ​ |  | 885.8 | ​ | 1,234.2 | ​ | 38.8 | ​ | 27.1 | ​ | 7.9 | ​ | 2,193.8
Floating rate |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Unsecured long term debt | ​ | 2.67% | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 488.9 | ​ | 488.9
Total floating rate debt |  | 2.67% | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 488.9 | ​ | 488.9
Total financial liabilities |  |  |  | 885.8 | ​ | 1,234.2 | ​ | 38.8 | ​ | 27.1 | ​ | 496.8 | ​ | 2,682.7
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | average | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2029 - | ​ | ​
​ | ​ | rate | ​ | 2025 | ​ | 2026 | ​ | 2027 | ​ | 2028 | ​ | 2031 | ​ | Total
At March 31, 2024 |  | (%) |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M
Fixed rate |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured debt |  | 1.67% | ​ | 50.0 | ​ | 843.4 |  | 1,198.8 |  | — |  | — |  | 2,092.2
Debt |  | 1.67% | ​ | 50.0 |  | 843.4 |  | 1,198.8 |  | — |  | — |  | 2,092.2
Lease liabilities - right of use | ​ | 4.43% | ​ | 39.4 | ​ | 31.9 | ​ | 32.1 | ​ | 32.7 | ​ | 28.5 | ​ | 164.6
Total fixed rate debt |  |  |  | 89.4 |  | 875.3 |  | 1,230.9 |  | 32.7 |  | 28.5 |  | 2,256.8
Floating rate |  | ​ | ​ |  |  |  |  |  |  |  |  |  |  |
Unsecured long term debt | ​ | 4.30% | ​ | — | ​ | — | ​ | — | ​ | — | ​ | 490.0 | ​ | 490.0
Total floating rate debt |  | 4.30% | ​ | — |  | — |  | — |  | — |  | 490.0 |  | 490.0
Total financial liabilities |  |  |  | 89.4 |  | 875.3 |  | 1,230.9 |  | 32.7 |  | 518.5 |  | 2,746.8
​
​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | average | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2028 - | ​ | ​
​ | ​ | rate | ​ | 2024 | ​ | 2025 | ​ | 2026 | ​ | 2027 | ​ | 2031 | ​ | Total
At March 31, 2023 |  | (%) |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M
Fixed rate |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured debt |  | 2.43% | ​ | 16.2 |  | 12.3 | ​ | - |  | — |  | — |  | 28.5
Unsecured debt |  | 1.39% | ​ | 1,040.5 | * | 46.0 |  | 846.1 |  | 1,198.8 |  | — |  | 3,131.4
Debt |  | 1.39% | ​ | 1,056.7 |  | 58.3 |  | 846.1 |  | 1,198.8 |  | — |  | 3,159.9
Lease liabilities - right of use |  | 4.37% | ​ | 43.2 | ​ | 38.4 | ​ | 31.8 | ​ | 32.2 | ​ | 60.7 | ​ | 206.3
Total fixed rate debt |  | ​ | ​ | 1,099.9 |  | 96.7 |  | 877.9 |  | 1,231.0 |  | 60.7 |  | 3,366.2
Floating rate | ​ |  |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Secured long term debt |  | ​ | ​ |  |  |  |  |  |  |  |  |  |  |
Unsecured long term debt | ​ | 3.45% | ​ | — | ​ | 750.0 | ​ | — | ​ | — | ​ | — | ​ | 750.0
Total floating rate debt |  | 3.45% | ​ | — |  | 750.0 |  | — |  | — |  | — |  | 750.0
Total financial liabilities | ​ |  |  | 1,099.9 |  | 846.7 |  | 877.9 |  | 1,231.0 |  | 60.7 |  | 4,116.2
* Includes promissory notes amounting to approx. €230 m
​
Schedule of significant cash balances invested on short term basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At March 31,
​ | ​ | 2025 | ​ | 2024 | ​ | 2023
​ | ​ | Within | ​ | Within | ​ | Within
​ | ​ | 1 year | ​ | 1 year | ​ | 1 year
Financial assets |  | €M |  | €M |  | €M
Cash and cash equivalents |  | 3,863.3 |  | 3,875.4 |  | 3,599.3
Cash > 3 months |  | 100.1 |  | 237.8 |  | 1,056.2
Restricted cash |  | 23.1 |  | 6.4 |  | 19.5
Total financial assets |  | 3,986.5 |  | 4,119.6 |  | 4,675.0
Schedule of maturities of contractual cash flows of financial liabilities | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Total | ​ | Total | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying | ​ | Contractual | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Value | ​ | Cash Flows | ​ | 2026 | ​ | 2027 | ​ | 2028 | ​ | 2029 | ​ | Thereafter
At March 31, 2025 |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M
Long and short term debt and leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Fixed rate debt: 1.7% |  | 2,044.7 | ​ | 2,092.0 | ​ | 882.7 | ​ | 1,209.3 | ​ | — | ​ | — | ​ | —
- Floating rate debt: 2.67% |  | 488.9 | ​ | 556.3 | ​ | 13.3 | ​ | 13.4 | ​ | 13.2 | ​ | 13.2 | ​ | 503.2
- Lease liabilities |  | 149.1 | ​ | 163.6 | ​ | 43.1 | ​ | 42.7 | ​ | 41.6 | ​ | 28.1 | ​ | 8.1
​ |  | 2,682.7 |  | 2,811.9 |  | 939.1 |  | 1,265.4 |  | 54.8 |  | 41.3 |  | 511.3
Derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Currency forward contracts – outflows |  | 2.7 | ​ | 508.6 | ​ | 51.6 | ​ | 327.3 | ​ | 116.5 | ​ | 7.0 | ​ | 6.2
- Currency forward contracts – inflows | ​ | ​ | ​ | (519.4) | ​ | (51.5) | ​ | (333.7) | ​ | (120.3) | ​ | (7.3) | ​ | (6.6)
- Commodity forward contracts |  | 224.5 | ​ | 224.5 | ​ | 224.5 | ​ | — | ​ | — | ​ | — | ​ | —
Trade payables |  | 702.0 | ​ | 702.0 | ​ | 702.0 | ​ | — | ​ | — | ​ | — | ​ | —
Accrued expenses |  | 1,953.5 | ​ | 1,953.5 | ​ | 1,953.5 | ​ | — | ​ | — | ​ | — | ​ | —
Total at March 31, 2025 |  | 5,565.4 |  | 5,681.1 |  | 3,819.2 |  | 1,259.0 |  | 51.0 |  | 41.0 |  | 510.9
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Total | ​ | Total | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying | ​ | Contractual | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Value | ​ | Cash Flows | ​ | 2025 | ​ | 2026 | ​ | 2027 | ​ | 2028 | ​ | Thereafter
At March 31, 2024 |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M
Long and short term debt and leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Fixed rate debt: 1.67% |  | 2,092.2 | ​ | 2,172.7 | ​ | 85.0 | ​ | 878.3 | ​ | 1,209.4 | ​ | — | ​ | —
- Floating rate debt: 4.30% |  | 490.0 | ​ | 579.2 | ​ | 21.2 | ​ | 21.3 | ​ | 21.3 | ​ | 21.5 | ​ | 493.9
- Lease liabilities |  | 164.6 | ​ | 183.1 | ​ | 45.5 | ​ | 37.1 | ​ | 36.1 | ​ | 34.9 | ​ | 29.5
​ |  | 2,746.8 |  | 2,935.0 |  | 151.7 |  | 936.7 |  | 1,266.8 |  | 56.4 |  | 523.4
Derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Currency forward contracts – outflows |  | 3.3 | ​ | 188.3 | ​ | 7.0 | ​ | 10.6 | ​ | 10.0 | ​ | 133.6 | ​ | 27.1
- Currency forward contracts – inflows | ​ | — | ​ | (195.0) | ​ | (7.0) | ​ | (10.7) | ​ | (10.2) | ​ | (138.5) | ​ | (28.6)
- Commodity forward contracts |  | 178.8 | ​ | 178.8 | ​ | 178.8 | ​ | — | ​ | — | ​ | — | ​ | —
Trade payables |  | 792.2 | ​ | 792.2 | ​ | 792.2 | ​ | — | ​ | — | ​ | — | ​ | —
Accrued expenses |  | 1,603.1 | ​ | 1,603.1 | ​ | 1,603.1 | ​ | — | ​ | — | ​ | — | ​ | —
Total at March 31, 2024 |  | 5,324.2 |  | 5,502.4 |  | 2,725.8 |  | 936.6 |  | 1,266.6 |  | 51.5 |  | 521.9
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Total | ​ | Total | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Carrying | ​ | Contractual | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Value | ​ | Cash Flows | ​ | 2024 | ​ | 2025 | ​ | 2026 | ​ | 2027 | ​ | Thereafter
At March 31, 2023 |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M |  | €M
Long and short term debt and leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Fixed rate debt: 1.39% |  | 3,159.9 | ​ | 3,284.4 | ​ | 1,100.6 | ​ | 93.5 | ​ | 881.0 | ​ | 1,209.3 | ​ | —
- Floating rate debt: 3.45% |  | 750.0 | ​ | 782.3 | ​ | 25.9 | ​ | 756.4 | ​ | — | ​ | — | ​ | —
- Lease liabilities | ​ | 206.3 | ​ | 233.4 | ​ | 51.1 | ​ | 45.0 | ​ | 37.0 | ​ | 35.9 | ​ | 64.4
​ |  | 4,116.2 |  | 4,300.1 |  | 1,177.6 |  | 894.9 |  | 918.0 |  | 1,245.2 |  | 64.4
Derivative financial instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |
- Currency forward contracts – outflows |  | 48.0 | ​ | 3,658.2 | ​ | 3,281.4 | ​ | 245.1 | ​ | 10.6 | ​ | 10.0 | ​ | 111.1
- Currency forward contracts – inflows | ​ | — | ​ | (3,645.4) | ​ | (3,263.2) | ​ | (246.9) | ​ | (10.7) | ​ | (10.2) | ​ | (114.4)
- Commodity forward contracts |  | 349.8 | ​ | 349.8 | ​ | 341.8 | ​ | 8.0 | ​ | — | ​ | — | ​ | —
Trade payables |  | 1,065.5 | ​ | 1,065.5 | ​ | 1,065.5 | ​ | - | ​ | — | ​ | — | ​ | —
Accrued expenses |  | 1,276.6 | ​ | 1,276.6 | ​ | 1,276.6 | ​ | — | ​ | — | ​ | — | ​ | —
Total at March 31, 2023 |  | 6,856.1 |  | 7,004.8 |  | 3,879.7 |  | 901.1 |  | 917.9 |  | 1,245.0 |  | 61.1
Schedule of derivative financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​
Derivative financial instruments: | ​ | ​ | ​ | ​ | ​
​ | At March 31,
​ | 2025 | ​ | 2024 | ​ | 2023
​ | €M | ​ | €M | ​ | €M
Foreign currency risk | ​ | ​ | ​ | ​ | ​
Property, plant and equipment - aircraft additions | 7.7 | ​ | 60.3 | ​ | 269.6
Fuel and oil operating expenses | 79.8 | ​ | 83.6 | ​ | (38.2)
Interest rate risk | ​ | ​ | ​ | ​ | ​
Variable-rate instruments | — | ​ | — | ​ | 3.6
Commodity price risk | ​ | ​ | ​ | ​ | ​
Fuel and carbon operating expenses | (204.9) | ​ | 26.8 | ​ | (286.1)
Net derivative position at year end | (117.4) | ​ | 170.7 | ​ | (51.1)
Schedule of change in gross value used for calculating hedge ineffectiveness | ​
​ | ​ | ​ | ​ | ​ | ​
Change in gross value used for calculating hedge ineffectiveness: | ​ | ​ | ​ | ​ | ​
​ | At March 31,
​ | 2025 | ​ | 2024 | ​ | 2023
​ | €M | ​ | €M | ​ | €M
Foreign currency risk | ​ | ​ | ​ | ​ | ​
Property, plant and equipment - aircraft additions | 149.8 | ​ | 515.0 | ​ | 407.0
Fuel and oil operating expenses | 114.6 | ​ | (117.7) | ​ | 405.1
Interest rate risk | ​ | ​ | ​ | ​ | ​
Variable-rate instruments | — | ​ | — | ​ | 3.8
Commodity price risk | ​ | ​ | ​ | ​ | ​
Fuel and carbon operating expenses | 154.3 | ​ | (398.8) | ​ | 2,806.5
Total | 418.7 | ​ | (1.5) | ​ | 3,622.4
Schedule of hedged items | ​
​ | ​ | ​ | ​ | ​ | ​
​ | At March 31, 2025
​ | Continuing | ​ | Balance | ​ | ​
​ | hedges | ​ | remaining ** | ​ | Total
​ | €M | ​ | €M | ​ | €M
Foreign currency risk | ​ | ​ | ​ | ​ | ​
Property, plant and equipment - aircraft additions | (7.7) | ​ | (76.1) | ​ | (83.8)
Fuel and oil operating expenses | (84.7) | ​ | — | ​ | (84.7)
Interest rate risk | ​ | ​ | ​ | ​ | ​
Variable-rate instruments | — | ​ | — | ​ | —
Commodity price risk | ​ | ​ | ​ | ​ | ​
Fuel and carbon operating expenses | 204.9 | ​ | — | ​ | 204.9
Gross cashflow hedge reserve | 112.5 | ​ | (76.1) | ​ | 36.4
​ | ​ | ​ | ​ | ​ | ​
*Deferred taxes included in Hedge reserve were €15 m
** Balance remaining in the cashflow hedge reserve for which hedge accounting is no longer applied
​ | At March 31, 2024
​ | Continuing | ​ | Balance | ​ | ​
​ | hedges | ​ | remaining ** | ​ | Total
​ | €M | ​ | €M | ​ | €M
Foreign currency risk | ​ | ​ | ​ | ​ | ​
Property, plant and equipment - aircraft additions | (30.0) | ​ | (142.6) | ​ | (172.6)
Fuel and oil operating expenses | (83.7) | ​ | — | ​ | (83.7)
Interest rate risk | ​ | ​ | ​ | ​ | ​
Variable-rate instruments | — | ​ | — | ​ | —
Commodity price risk | ​ | ​ | ​ | ​ | ​
Fuel and carbon operating expenses | (26.8) | ​ | — | ​ | (26.8)
Gross cashflow hedge reserve | (140.5) | ​ | (142.6) | ​ | (283.1)
​ | ​ | ​ | ​ | ​ | ​
*Deferred taxes included in Hedge reserve were €17 m
** Balance remaining in the cashflow hedge reserve for which hedge accounting is no longer applied
​ | At March 31, 2023
​ | Continuing | ​ | Balance | ​ | ​
​ | hedges | ​ | remaining ** | ​ | Total
​ | €M | ​ | €M | ​ | €M
Foreign currency risk | ​ | ​ | ​ | ​ | ​
Property, plant and equipment - aircraft additions | 265.6 | ​ | 83.1 | ​ | 348.7
Fuel and oil operating expenses | (38.2) | ​ | — | ​ | (38.2)
Interest rate risk | ​ | ​ | ​ | ​ | ​
Variable-rate instruments | (6.6) | ​ | — | ​ | (6.6)
Commodity price risk | ​ | ​ | ​ | ​ | ​
Fuel and carbon operating expenses | (300.1) | ​ | — | ​ | (300.1)
Gross cashflow hedge reserve | (79.3) | ​ | 83.1 | ​ | 3.8
​ | ​ | ​ | ​ | ​ | ​
*Deferred taxes included in Hedge reserve were €28 m | ​ | ​ | ​ | ​ | ​
** Balance remaining in the cashflow hedge reserve for which hedge accounting is no longer applied | ​ | ​ | ​ | ​ | ​
Schedule of movement in derivative financial instruments designated as hedging instruments | ​
​ | ​ | ​ | ​ | ​ | ​
​ | At March 31, 2025
​ | Change in | ​ | Hedge ineffectiveness | ​ | Reclassified from
​ | fair value | ​ | recognized in | ​ | hedging reserve
​ | recognized in OCI | ​ | profit or loss* | ​ | to profit or loss**
​ | €M | ​ | €M | ​ | €M
Foreign currency risk | ​ | ​ | ​ | ​ | ​
Property, plant and equipment - aircraft additions | (149.8) | ​ | — | ​ | —
Fuel and oil operating expenses | (114.6) | ​ | — | ​ | 110.9
Interest rate risk | ​ | ​ | ​ | ​ | ​
Variable-rate instruments | — | ​ | — | ​ | —
Commodity price risk | ​ | ​ | ​ | ​ | ​
Fuel and carbon operating expenses | (154.3) | ​ | — | ​ | (77.4)
Total movement in derivative instruments | (418.7) | ​ | — | ​ | 33.5
​ | ​ | ​ | ​ | ​ | ​
​ | At March 31, 2024
​ | Change in | ​ | Hedge ineffectiveness | ​ | Reclassified from
​ | fair value | ​ | recognized in | ​ | hedging reserve
​ | recognized in OCI | ​ | profit or loss* | ​ | to profit or loss**
​ | €M | ​ | €M | ​ | €M
Foreign currency risk | ​ | ​ | ​ | ​ | ​
Property, plant and equipment - aircraft additions | (515.0) | ​ | — | ​ | —
Fuel and oil operating expenses | 117.7 | ​ | — | ​ | 4.2
Interest rate risk | ​ | ​ | ​ | ​ | ​
Variable-rate instruments | — | ​ | — | ​ | (3.6)
Commodity price risk | ​ | ​ | ​ | ​ | ​
Fuel and carbon operating expenses | 398.8 | ​ | — | ​ | (71.8)
Total movement in derivative instruments | 1.5 | ​ | — | ​ | (71.2)
​ | ​ | ​ | ​ | ​ | ​
​ | At March 31, 2023
​ | Change in | ​ | Hedge ineffectiveness | ​ | Reclassified from
​ | fair value | ​ | recognized in | ​ | hedging reserve
​ | recognized in OCI | ​ | profit or loss* | ​ | to profit or loss**
​ | €M | ​ | €M | ​ | €M
Foreign currency risk | ​ | ​ | ​ | ​ | ​
Property, plant and equipment - aircraft additions | (407.0) | ​ | — | ​ | —
Fuel and oil operating expenses | (405.1) | ​ | — | ​ | 261.2
Interest rate risk | ​ | ​ | ​ | ​ | ​
Variable-rate instruments | (3.8) | ​ | — | ​ | 2.9
Commodity price risk | ​ | ​ | ​ | ​ | ​
Fuel and carbon operating expenses | (2,806.5) | ​ | — | ​ | 1,557.5
Total movement in derivative instruments | (3,622.4) | ​ | — | ​ | 1,821.6
​ | ​ | ​ | ​ | ​ | ​
* Hedge ineffectiveness is classified within “Finance Expense” on the Consolidated Income Statement
** Reclassified from hedging reserve to income statement – Fuel & Oil Foreign Currency & Commodity are reclassified in Fuel and Oil; Variable rate instruments are reclassified to Finance expense
Schedule of reclassified from other comprehensive income into the income statement | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | At March 31,
​ | ​ | ​ |  | 2025 |  | 2024 |  | 2023
​ | ​ | ​ |  | €M |  | €M |  | €M
Commodity forward contracts | ​ | ​ |  |  |  |  |  |
Reclassification adjustments for losses/(gains) recognized in fuel and oil operating expenses | ​ | ​ |  | 77.4 |  | 71.8 |  | 1,557.5
Interest rate swaps | ​ | ​ |  | ​ |  | ​ |  | ​
Reclassification adjustments for losses recognized in finance expense | ​ | ​ |  | — |  | 3.6 |  | 2.9
Foreign currency forward contracts | ​ | ​ |  | ​ |  | ​ |  | ​
Reclassification adjustments for losses/(gains) recognized in fuel and oil operating expenses | ​ | ​ |  | (110.9) |  | (4.2) |  | 261.2
​ | ​ | ​ |  | (33.5) |  | 71.2 |  | 1,821.6
Schedule of reclassified from other comprehensive income into the capitalized cost | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | At March 31,
​ | ​ | ​ |  | 2025 |  | 2024 |  | 2023
​ | ​ | ​ |  | €M |  | €M |  | €M
Foreign currency forward contracts | ​ | ​ |  |  |  |  |  |
Recognized in property plant and equipment – aircraft additions | ​ | ​ |  | (100.6) |  | (305.7) |  | (308.1)
​ | ​ | ​ |  | (100.6) |  | (305.7) |  | (308.1)
Schedule of fair values and notional amounts derivative financial instruments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | At March 31,
​ | ​ | 2025 | ​ | ​ | 2024 | ​ | ​ | 2023
​ | ​ | Within | ​ | > 1 Year | ​ | ​ | ​ | ​ | Within | ​ | > 1 Year | ​ | ​ | ​ | ​ | Within | ​ | > 1 Year | ​ | ​
​ | ​ | 1 Year | ​ | (non— | ​ | ​ | ​ | ​ | 1 Year | ​ | (non— | ​ | ​ | ​ | ​ | 1 Year | ​ | (non— | ​ | ​
​ | ​ | (current) | ​ | current) | ​ | Total | ​ | ​ | (current) | ​ | current) | ​ | Total | ​ | ​ | (current) | ​ | current) | ​ | Total
​ |  | €M |  | €M |  | €M |  |  | €M |  | €M |  | €M |  |  | €M |  | €M |  | €M
Foreign currency risk notional amounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
for effective hedges | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
PP&E — aircraft additions |  | 373.8 | ​ | — | ​ | 373.8 |  |  | 494.0 | ​ | 24.1 |  | 518.1 |  |  | 1,893.6 | ​ | 411.9 |  | 2,305.5
Fuel and oil operating expenses |  | 3,925.5 | ​ | 1,141.2 | ​ | 5,066.7 |  |  | 3,701.7 | ​ | 423.7 |  | 4,125.4 |  |  | 3,979.4 | ​ | 791.6 |  | 4,771.0
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
— Within derivative financial assets |  | 84.4 | ​ | 5.8 | ​ | 90.2 |  |  | 144.0 | ​ | 3.2 |  | 147.2 |  |  | 226.2 | ​ | 53.2 |  | 279.4
— Within derivative financial liabilities |  | (0.2) | ​ | (2.5) | ​ | (2.7) |  |  | — | ​ | (3.3) |  | (3.3) |  |  | (44.9) | ​ | (3.1) |  | (48.0)
​ |  | 84.2 |  | 3.3 |  | 87.5 |  |  | 144.0 |  | (0.1) |  | 143.9 |  |  | 181.3 |  | 50.1 |  | 231.4
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest rate risk notional amounts for effective hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Variable—rate instruments |  | — | ​ | — |  | — |  |  | — | ​ | — |  | — |  |  | 16.4 | ​ | 15.6 |  | 32.0
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total fair value for all interest rate risk related derivative instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
— Within derivative financial assets |  | — | ​ | — |  | — |  |  | — | ​ | — |  | — |  |  | 2.2 | ​ | 1.4 |  | 3.6
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commodity price risk notional amounts for effective hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fuel and carbon operating expenses |  | 3,424.5 | ​ | 476.4 | ​ | 3,900.9 |  |  | 3,713.8 | ​ | 2.2 | ​ | 3,716.0 |  |  | 3,504.5 | ​ | 310.5 |  | 3,815.0
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total fair value for all commodity fuel & carbon related derivative instruments: |  | ​ |  |  | ​ |  |  |  |  |  |  | ​ |  |  |  |  |  |  |  |
— Within derivative financial assets |  | 10.0 | ​ | 9.6 | ​ | 19.6 |  |  | 205.5 | ​ | 0.1 | ​ | 205.6 |  |  | 63.7 | ​ | — |  | 63.7
— Within derivative financial liabilities |  | (224.5) | ​ | — | ​ | (224.5) |  |  | (178.0) | ​ | (0.8) | ​ | (178.8) |  |  | (341.7) | ​ | (8.1) |  | (349.8)
​ |  | (214.5) |  | 9.6 |  | (204.9) |  |  | 27.5 |  | (0.7) |  | 26.8 |  |  | (278.0) |  | (8.1) |  | (286.1)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair values as reported in the consolidated balance sheet |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial assets |  | 94.4 | ​ | 15.4 | ​ | 109.8 |  |  | 349.5 | ​ | 3.3 | ​ | 352.8 |  |  | 292.1 | ​ | 54.6 |  | 346.7
Derivative financial liabilities |  | (224.7) | ​ | (2.5) | ​ | (227.2) |  |  | (178.0) | ​ | (4.1) | ​ | (182.1) |  |  | (386.6) | ​ | (11.2) |  | (397.8)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial assets analyzed between those: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
— Designated as continuing cash flow hedges |  | 94.4 | ​ | 15.4 | ​ | 109.8 |  |  | 322.6 | ​ | 3.3 | ​ | 325.9 |  |  | 292.1 | ​ | 54.6 |  | 346.7
— Where hedge accounting is no longer applied |  | — | ​ | — | ​ | — |  |  | 26.9 | ​ | — | ​ | 26.9 |  |  | — | ​ | — |  | —
— Designated as fair value financial instruments | ​ | — | ​ | — | ​ | — | ​ | ​ | — | ​ | — | ​ | — | ​ | ​ | — | ​ | — | ​ | —
​ |  | 94.4 |  | 15.4 |  | 109.8 |  |  | 349.5 |  | 3.3 |  | 352.8 |  |  | 292.1 |  | 54.6 |  | 346.7
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Derivative financial liabilities analyzed between those: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
— Designated as continuing cash flow hedges |  | (224.7) | ​ | (2.5) | ​ | (227.2) |  |  | (178.0) | ​ | (4.1) | ​ | (182.1) |  |  | (386.6) | ​ | (11.2) |  | (397.8)
— Where hedge accounting is no longer applied |  | — | ​ | — | ​ | — |  |  | — | ​ | — | ​ | — |  |  | — | ​ | — |  | —
— Designated as fair value financial instruments |  | — | ​ | — | ​ | — |  |  | — | ​ | — | ​ | — |  |  | — | ​ | — |  | —
​ |  | (224.7) |  | (2.5) |  | (227.2) |  |  | (178.0) |  | (4.1) |  | (182.1) |  |  | (386.6) |  | (11.2) |  | (397.8)

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