Singapore Airlines 2009 Annual Report Download - page 152

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150
NOTES TO THE FINANCIAL STATEMENTS
31 March 2009
18 Long-Term Liabilities (in $ million) (continued)
Finance leases (continued)
The SATS Group entered into a fi nance lease agreement for the lease of tractors for a period of 10 years
from March 2008. The principal is payable by instalments over a period of 120 months, at an interest rate
of 5.10% (2007-08: 5.10%) per annum.
In addition, the SATS Group also has fi nance leases for certain items of plant, machinery and equipment.
These lease agreements do not have renewal clauses but provide the SATS Group with options to purchase
the leased assets at nominal values at the end of the lease term.
Future lease payments under these fi nance leases are as follows:
The Group
31 March
2009 2008
Minimum Repayment Minimum Repayment
Payments of Principal Payments of Principal
Not later than one year 85.3 66.9 78.4 56.9
Later than one year but not later than
fi ve years 359.3 308.2 329.3 263.7
Later than fi ve years 188.4 173.4 254.8 232.1
Total future lease payments 633.0 548.5 662.5 552.7
Amounts representing interest (84.5) - (109.8) -
Principal value of fi nance lease commitments 548.5 548.5 552.7 552.7