US Airways 2011 Annual Report Download - page 133

Table of Contents
8. Commitments and Contingencies
(a) Commitments to Purchase Flight Equipment and Maintenance Services
Aircraft and Engine Purchase Commitments
US Airways has definitive purchase agreements with Airbus for the acquisition of 134 aircraft, including 97 single-aisle A320 family aircraft and 37
widebody aircraft (comprised of 22 A350 XWB aircraft and 15 A330-200 aircraft). Since 2008, when deliveries commenced under the purchase agreements,
US Airways has taken delivery of 46 aircraft through December 31, 2011, which includes four A320 aircraft, 35 A321 aircraft and seven A330-200 aircraft.
US Airways plans to take delivery of 12 A321 aircraft in 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 two
of the V2500-A5 spare engines through December 31, 2011.
Under all of US Airways' aircraft and engine purchase agreements, US Airways' total future commitments as of December 31, 2011 are expected to be
approximately $5.38 billion through 2019 as follows: $656 million in 2012, $1.16 billion in 2013, $937 million in 2014, $448 million in 2015, $107 million in
2016 and $2.07 billion thereafter, which includes predelivery deposits and payments. US Airways has financing commitments for all Airbus aircraft scheduled
for delivery in 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, 2011, US Airways had 283 aircraft under operating leases, with remaining terms ranging from five months to approximately 12 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, 2011, obligations under noncancellable operating leases for future minimum lease payments were as follows (in millions):
2012 $ 1,007
2013 845
2014 731
2015 628
2016 572
Thereafter 2,232
Total minimum lease payments 6,015
Less sublease rental receipts (421)
Total minimum lease payments $ 5,594
For the years ended December 31, 2011, 2010 and 2009, rental expense under operating leases was $1.23 billion, $1.25 billion and $1.28 billion,
respectively.
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