EasyJet 2009 Annual Report Download - page 76

Download and view the complete annual report

Please find page 76 of the 2009 EasyJet annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 96

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96

74 easyJet plc Annual report and accounts 2009
NOTES TO THE ACCOUNTS CONTINUED
13 Cash and money market deposits
2009
£ million
2008
£ million
Cash and cash equivalents (original maturity less than three months) 788.6 632.2
Money market deposits (original maturity over three months) 286.3 230.3
Current restricted cash 24.3 23.3
Non-current restricted cash 48.0 42.9
1,147.2 928.7
Interest rates on money market deposits and restricted cash are repriced within 185 days based on prevailing market rates of interest. Carrying value is not
significantly different from fair value.
Restricted cash comprises:
2009
£ million
2008
£ million
Customer payments for packaged holidays 23.4 23.3
Pledged as collateral to third-parties:
Aircraft operating lease deposits 44.4 37.2
Aircraft mortgage collateral 2.7 4.0
Other 1.8 1.7
72.3 66.2
14 Trade and other payables
2009
£ million
2008
£ million
Trade payables 99.2 77.5
Other taxes and social security 7.8 10.2
Other creditors 63.6 41.8
Unearned revenue 324.3 286.2
Accruals and deferred income 255.8 237.3
750.7 653.0
15 Borrowings
At 30 September 2009 Current
£ million
Non-current
£ million
Total
£ million
Bank loans 113.8 896.9 1,010.7
Finance lease obligations 3.8 106.1 109.9
117.6 1,003.0 1,120.6
At 30 September 2008 Current
£ million
Non-current
£ million
Total
£ million
Bank loans 53.5 471.4 524.9
Finance lease obligations 3.2 98.8 102.0
56.7 570.2 626.9
Bank loans, which bear interest at variable rates linked to LIBOR, were drawn down to finance the acquisition of aircraft that have been mortgaged to the
lender to provide security.
Finance lease obligations relate to aircraft and bear interest partly at fixed rates and partly at variable rates linked to LIBOR.
The maturity profile of borrowings is set out in note 25.