Qantas 2013 Annual Report Download - page 142
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140
B OPERATING LEASE COMMITMENTS
Qantas Group
2013
$M
2012
$M
AS LESSEE
Non-cancellable operating lease commitments not provided for in the
Consolidated Financial Statements
Aircraft – payable:
Not later than one year 607 616
Later than one year but not later than ve years 1,298 1,569
Later than ve years 227 342
2,132 2,527
Non-aircraft – payable:
Not later than one year 193 185
Later than one year but not later than ve years 568 528
Later than ve years but not later than 10 years 273 273
Later than 10 years1227 92
1,261 1,078
Less: provision for potential under-recovery of rentals on unused premises available for sub-lease
(included in onerous contract provision) (4) (8)
1,257 1,070
Total operating lease commitments not provided for in the Consolidated Financial Statements 3,389 3,597
1. Represents the long-term extension of the Qantas Group Headquarters following refurbishment enabling the consolidation of other leases to be realised in the near term.
The Qantas Group leases aircraft, buildings and plant and equipment under operating leases with expiry dates between one
and 30 years.
The Qantas Group has the right to negotiate extensions on most leases.
Qantas Group
2013
$M
2012
$M
AS LESSOR
Operating lease receivables not recognised in the Consolidated Financial Statements
Receivable:
Not later than one year 515
Later than one year but not later than ve years 552
Later than ve years 223
Total operating lease receivables not recognised in the Consolidated Financial Statements 12 90
C CAPITAL EXPENDITURE COMMITMENTS
Capital expenditure commitments contracted but not provided for in the Consolidated
Financial Statements, payable, in relation to:
Not later than one year 1,097 1,201
Later than one year but not later than ve years 4,618 7,930
Later than ve years 3,444 4,928
Total capital expenditure commitments not recognised in the Consolidated Financial Statements 9,159 14,059
Qantas has a number of cancellation and deferral rights within its aircraft purchase contracts which can reduce or defer the above
capital expenditure. The Group also has further opportunities to place ordered aircraft with its associates.
Notes to the Financial Statements continued
FOR THE YEAR ENDED 30 JUNE 2013
29. Commitments continued