EasyJet 2013 Annual Report Download - page 115
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PLOOLRQ
2012
£ million
Cash and cash equivalents (original maturity less than three months) 645
Money market deposits (original maturity more than three months) 238
Current restricted cash ± 130
Non-current restricted cash 29
1,042
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:
PLOOLRQ
2012
£ million
Pledged as collateral to third parties:
Payment card acquiring ± 130
Aircraft operating lease deposits 25
Other ± 4
159
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PLOOLRQ
2012
£ million
Trade payables 109
Unearned revenue 496
Accruals 327
Leased aircraft – surplus on sale and leaseback 11
Other taxes and social security 13
Other payables 65
1,021
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PLOOLRQ
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PLOOLRQ
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PLOOLRQ
Bank loans
Finance lease obligations
At 30 September 2012 Current
£ million
Non-current
£ million
Total
£ million
Bank loans 120 632 752
Finance lease obligations 9 196 205
129 828 957
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. None of the agreements contain financial covenants required
to be met.
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 22.
113
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Accounts & other information