Qantas 2008 Annual Report Download - page 123
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121 Qantas Annual Report 2008
Notes to the Financial Statements
for the year ended 30 June 2008
(A) Finance lease and hire purchase commitments
Qantas Group Qantas
2008
$M
2007
$M
2008
$M
2007
$M
Included in the Financial Statements as fi nance lease and hire purchase liabilities
are the present values of future rentals of the following:
Aircraft and engines 606.0 1,058.1 1,984.9 2,651.9
Computer and communications equipment –0.4 ––
606.0 1,058.5 1,984.9 2,651.9
Payable
Not later than one year 83.7 458.2 336.4 710.6
Later than one year but not later than fi ve years 271.9 375.4 1,346.2 1,474.1
Later than fi ve years 354.7 400.8 693.2 983.6
710.3 1,234.4 2,375.8 3,168.3
Less: future lease and hire purchase fi nance charges 104.3 175.9 390.9 516.4
606.0 1,058.5 1,984.9 2,651.9
Finance lease and hire purchase liabilities provided for
in the Financial Statements
Current liability (refer Note 21)
controlled entities–––176.7 174.0
other parties–66.8 483.2 66.8 483.2
Non-current liability (refer Note 21)
controlled entities–––1,202.2 1,419.4
other parties–539.2 575.3 539.2 575.3
606.0 1,058.5 1,984.9 2,651.9
The Qantas Group leases aircraft and plant and equipment under fi nance leases with expiry dates between one and 17 years. Most fi nance leases
contain purchase options exercisable at the end of the lease term. The Qantas Group has the right to negotiate extensions on most leases.
27. Commitments
For personal use only