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128 Qantas Annual Report 2009
Notes to the Financial Statements
for the year ended 30 June 2009
28. Commitments continued
Qantas Group Qantas
2009 2008 2009 2008
AS LESSEE $M $M $M $M
Future net operating lease and rental commitments
not provided for in the Financial Statements 4,675 4,417 2,348 1,803
Payable
Not later than one year 798 697 416 379
Laterthanoneyearbutnotlaterthanveyears 2,700 2,388 1,212 929
Later than five years 1,186 1,333 729 496
4,684 4,418 2,357 1,804
Less: provision for potential under recovery of rentals on unused
premisesavailableforsub-lease(includedinonerouscontractprovision) 9 1 9 1
4,675 4,417 2,348 1,803
Operating lease commitments represent:
Cancellableoperatingleases 1,011 1,056 996 1,029
Non-cancellableoperatingleases:   
Aircraft 3,664 3,361 1,352 774
4,675 4,417 2,348 1,803
Non-cancellable operating lease commitments, excluding unguaranteed
residual payments, not provided for in the Financial Statements
Not later than one year 622 488 246 183
Laterthanoneyearbutnotlaterthanveyears 2,260 1,966 779 520
Later than five years 782 907 327 71
3,664 3,361 1,352 774
TheQantasGroupleasesaircraft,buildingsandplantandequipmentunderoperatingleaseswithexpirydatesbetweenoneand35years.
TheQantasGrouphastherighttonegotiateextensionsonmostleases.
(B) OPERATING LEASE AND RENTAL COMMITMENTS
AS LESSOR
Receivable
Not later than one year 11 12 6 6
Laterthanoneyearbutnotlaterthanveyears 47 47 25 25
Later than five years 56 67 30 36
114 126 61 67
Qantas leases out freighter aircraft under long-term operating leases with rentals received monthly.
(C) CAPITAL EXPENDITURE COMMITMENTS
Capital expenditure commitments contracted but
not provided for in the Financial Statements
Aircraft 16,591 16,496 16,591 16,496
Buildingworks 103 143 103 143
Other 96 175 92 169
16,790 16,814 16,786 16,808
Payable
Not later than one year 1,560 2,492 1,556 2,486
Laterthanoneyearbutnotlaterthanveyears 10,135 9,070 10,135 9,070
Later than five years 5,095 5,252 5,095 5,252
16,790 16,814 16,786 16,808
Theaboveamountsexcludeuncommittedaircraftpurchasepaymentsthatmaybemadeifcancellableaircraftoptionsareexercised.Qantashasanumber
ofsliderightsavailableoncommittedaircraftcapitalexpenditurethataregenerallyexercisable24monthspriortocontracteddelivery.