Aer Lingus 2008 Annual Report Download - page 77

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75
AER LINGUS GROUP PLC - ANNUAL REPORT 2008
18 Borrowings
2008 2007
€’000 €’000
Bank overdraft
Repayable – within one year - 17,138
Finance lease obligations
Repayable – within one year 104,949 24,807
– from one to two years 45,609 56,433
– from two to five years 92,037 121,280
– after five years 310,274 155,598
552,869 358,118
Less current portion (104,949) (24,807)
Non-current portion 447,920 333,311
Total interest bearing loans and borrowings
Current portion 104,949 41,945
Non-current portion 447,920 333,311
552,869 375,256
Total borrowings include secured liabilities (bank and collateralised borrowings) of €552.9m (2007: €358.1). Bank borrowings
are secured by various items of property, plant and equipment of the Group, mainly aircraft (Note 9).
The exposure of the Group’s borrowings to interest rate changes and the contractual repricing dates at the balance sheet dates
are as follows:
2008
€’000
2007
€’000
6 months or less -17,138
6-12 months 80,271 -
1-5 years 73,654 129,820
Over 5 years 398,944 228,298
552,869 375,256
The maturity of non-current borrowings is as follows:
2008
€’000
2007
€’000
Between 1 and 2 years 45,609 92,546
Between 2 and 5 years 92,037 85,167
Over 5 years 310,274 155,598
447,920 333,311