Delta Airlines 2009 Annual Report Download - page 91
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Table of Contents
The following tables summarize, as of December 31, 2009, our minimum rental commitments under capital leases and noncancelable operating leases
(including certain aircraft under Contract Carrier agreements) with initial or remaining terms in excess of one year:
Capital Leases
Years Ending December 31,
(in millions)
2010 $148
2011 146
2012 119
2013 87
2014 67
Thereafter 337
Total minimum lease payments 904
Less: amount of lease payments representing interest (396)
Present value of future minimum capital lease payments 508
Plus: unamortized premium, net 25
Less: current obligations under capital leases (88)
Long-term capital lease obligations $445
Operating Leases
Contract
Carrier
Delta Aircraft
Years Ending December 31, Lease Lease
(in millions) Payments Payments(1) Total
2010 $ 1,082 $ 507 $ 1,589
2011 910 497 1,407
2012 806 490 1,296
2013 711 460 1,171
2014 634 451 1,085
Thereafter 3,700 1,542 5,242
Total minimum lease payments $ 7,843 $ 3,947 $ 11,790
(1) These amounts represent the minimum lease obligations under our Contract Carrier agreements with Atlantic Southeast Airlines, Inc. ("ASA"),
Chautauqua Airlines, Inc. ("Chautauqua"), Freedom Airlines, Inc. ("Freedom"), Pinnacle Airlines, Inc. ("Pinnacle"), Shuttle America Corporation
("Shuttle America") and SkyWest Airlines, Inc. ("SkyWest Airlines").
At December 31, 2009, we operated 213 aircraft under operating leases and 93 aircraft under capital leases. Our Contract Carriers under capacity purchase
agreements operated 450 aircraft under operating leases. Leases for aircraft operated by us and our Contract Carriers have expiration dates ranging from 2010
to 2025. During the four months ended April 30, 2007, we recorded estimated claims relating to the restructuring of the financing arrangements for many of
our aircraft and the rejection of certain of our leases in connection with our bankruptcy proceedings.
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