Ryanair 2004 Annual Report Download - page 39

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39
A N N U A L R E P O RT & F I N A N C I A L S T A T E M E N T S 2 0 0 4
(Continued)
Notes
10 MATURITY ANALYSIS OF LONG TERM DEBT
GROUP 2004 2003
000 000
Due within one year:
Secureddebt80,337 63,291
Due betweenone and two years
Secureddebt84,209 66,480
Due between two and five years
Secureddebt276,715 220,869
Due after five years
Secureddebt511,721 486,585
872,645 773,934
Total 952,982 837,225
(i) Aircraft facility.
At March 31, 2004 the group had borrowings equivalent to 945.0m (2003: 828.2m) from various financial institutions
provided on the basis of guarantees provided by the Export-Import Bank of the United States to finance the acquisition of 41
Boeing 737-800 “next generation” aircraft. The guarantees are secured with a first fixed mortgage on the delivered aircraf t.
At March 31, 2004 the group had taken delivery of 41 of these aircraft. The remaining balance of long term debt relates to debt
drawn down to fund the acquisition of an aircraft simulator. Details of the interest rates and terms of such debt are set out in
Note 16.
2004
(ii) Maturity analysis of long-term debt 000
Year ending March 31 2005 80,337
2006 84,209
2007 88,076
2008 92,162
2009-2016 608,198
952,982
(iii) Analysis of changes inborrowingsduring the year 2004 2003
000 000
Opening balance at start of year 837,225 550,502
Loans raised to finance aircraft/simulator purchases 187,035 331,502
Repayments of amounts borrowed (71,278) (44,779)
Closing balance at end of year 952,982 837,225