US Airways 2010 Annual Report Download - page 131

Table of Contents
delivery of 34 aircraft through December 31, 2010, which includes four A320 aircraft, 23 A321 aircraft and seven A330-200 aircraft.
During 2010, US Airways took delivery of two A320 aircraft and two A330-200 aircraft, which were financed through new loan
agreements. US Airways plans to take delivery of 12 A320 family aircraft in each of 2011 and 2012, with the remaining 46 A320 family
aircraft scheduled to be delivered between 2013 and 2015. In addition, US Airways plans to take delivery of the eight remaining
A330-200 aircraft in 2013 and 2014. Deliveries of the 22 A350 XWB aircraft are scheduled to begin in 2017 and extend through 2019.
US Airways has agreements for the purchase of eight new IAE V2500-A5 spare engines scheduled for delivery through 2014 for use
on the A320 family fleet, three new Trent 700 spare engines scheduled for delivery through 2013 for use on the A330-200 fleet and three
new Trent XWB spare engines scheduled for delivery in 2017 through 2019 for use on the A350 XWB aircraft. US Airways has taken
delivery of two of the Trent 700 spare engines and one of the V2500-A5 spare engines through December 31, 2010.
Under all of US Airways' aircraft and engine purchase agreements, US Airways' total future commitments as of December 31, 2010
are expected to be approximately $5.9 billion through 2019 as follows: $570 million in 2011, $618 million in 2012, $1.15 billion in 2013,
$935 million in 2014, $445 million in 2015 and $2.18 billion thereafter, which includes predelivery deposits and payments. US Airways
has financing commitments for all Airbus aircraft scheduled for delivery in 2011 and 2012.
(b) Leases
US Airways leases certain aircraft, engines and ground equipment, in addition to the majority of its ground facilities and terminal
space. As of December 31, 2010, US Airways had 290 aircraft under operating leases, with remaining terms ranging from four months to
approximately 13 years. Airports are utilized for flight operations under lease arrangements with the municipalities or agencies owning or
controlling such airports. Substantially all leases provide that the lessee must pay taxes, maintenance, insurance and certain other
operating expenses applicable to the leased property. Some leases also include renewal and purchase options.
As of December 31, 2010, obligations under noncancellable operating leases for future minimum lease payments were as follows (in
millions):
2011 $ 977
2012 902
2013 743
2014 663
2015 571
Thereafter 2,550
Total minimum lease payments 6,406
Less sublease rental receipts (470)
Total minimum lease payments $ 5,936
For the years ended December 31, 2010, 2009 and 2008, rental expense under operating leases was $1.25 billion, $1.28 billion and
$1.32 billion, respectively.
US Airways leases certain flight equipment to related parties (see Note 11(b)) under noncancellable operating leases expiring in
various years through year 2022. The future minimum rental receipts associated with these leases are $78 million in each year 2011
through 2014, $74 million in 2015 and $312 million thereafter. The following amounts relate to owned aircraft leased under such
agreements as reflected in flight equipment as of December 31, 2010 and 2009 (in millions):
2010 2009
Flight equipment $ 286 $ 286
Less accumulated amortization (53) (43)
$ 233 $ 243
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