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ANNUAL REPORT 2014
67Notes to the Financial Statements Statement of Financial Position
15. Long-term liabilities (continued)
(a) Long-term loans
Group Company
2014
HK$M
2013
HK$M
2014
HK$M
2013
HK$M
Bank loans
 – secured 18,181 12,839 654 1,053
 – unsecured 11,468 13,810 11,468 13,810
Other loans
 – unsecured 4,048 4,139 3,803 4,139
33,697 30,788 15,925 19,002
Amount due within one year included
 under current liabilities (6,025) (5,834) (3,932) (4,315)
27,672 24,954 11,993 14,687
Repayable as follows:
Bank loans
 – within one year 5,664 5,546 3,640 4,027
 – after one year but within two years 8,206 5,732 6,315 4,392
 – after two years but within five years 7,824 10,067 2,167 6,444
 – after five years 7,955 5,304 ––
29,649 26,649 12,122 14,863
Other loans
 – within one year 361 288 292 288
 – after one year but within two years 331 275 261 275
 – after two years but within five years 2,842 2,862 2,736 2,862
 – after five years 514 714 514 714
4,048 4,139 3,803 4,139
Amount due within one year included
 under current liabilities (6,025) (5,834) (3,932) (4,315)
27,672 24,954 11,993 14,687
Borrowings other than bank loans are repayable on various dates up to 2022 at an interest rate of 3.0% per annum
while bank loans are repayable up to 2026.
Long-term loans of the Group and the Company not wholly repayable within five years amounted to HK$17,698
million and HK$514 million respectively (2013: HK$11,782 million and HK$714 million).
As at 31st December 2014, the Group and the Company had long-term loans totalling HK$36,617 million and
HK$36,617 million respectively (2013: HK$32,215 million and HK$32,215 million) which were defeased by funds and
other investments. Accordingly, these liabilities and the related funds, as well as related expenditure and income,
have been defeased in the financial statements.
(b) Obligations under finance leases
The Group has commitments under finance lease agreements in respect of aircraft and related equipment expiring
during the years 2015 to 2026. The reconciliation of future lease payments and their carrying value under these
finance leases is as follows:
Group Company
2014
HK$M
2013
HK$M
2014
HK$M
2013
HK$M
Future payments 35,871 43,468 52,958 56,027
Interest charges relating to future periods (3,752) (5,617) (6,320) (7,476)
Present value of future payments 32,119 37,851 46,638 48,551
Security deposits, notes and zero coupon bonds (720) (1,587) (520) (872)
Amounts due within one year included under
 current liabilities (3,756) (4,384) (5,136) (8,343)
27,643 31,880 40,982 39,336