Singapore Airlines 2009 Annual Report Download - page 150
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148
18 Long-Term Liabilities (in $ million)
The Group The Company
31 March 31 March
2009 2008 2009 2008
Notes payable 1,100.0 1,100.0 900.0 900.0
Current (200.0) - - -
Non-current 900.0 1,100.0 900.0 900.0
Loans 44.0 4.0 - -
Current (32.7) (0.6) - -
Non-current 11.3 3.4 - -
Finance lease commitments 548.5 552.7 - -
Current (66.9) (56.9) - -
Non-current 481.6 495.8 - -
Other liabilities 155.9 134.3 114.8 110.2
Current (35.3) (44.1) (26.7) (44.1)
Non-current 120.6 90.2 88.1 66.1
Total long-term liabilities 1,513.5 1,689.4 988.1 966.1
Notes payable
Notes payable at 31 March 2009 comprise unsecured long-term notes issued by the Company, which
bear fi xed interest at 4.15% (2007-08: 4.15%) per annum and are repayable on 19 December 2011,
and unsecured medium-term notes issued by SATS, which bear fi xed interest at 3.00% (2007-08: 3.00%)
per annum and are repayable on 2 September 2009. The fair value of notes payable amounted to
$1,109.3 million (2008: $1,149.2 million) for the Group and $909.0 million (2008: $947.0 million) for
the Company.
Loans
Of the Group’s $44.0 million (2008: $4.0 million) loans, $17.8 million (2008: $0.1 million) is secured over
property, plant and equipment and other assets of certain subsidiary companies with a total carrying value
of $141.2 million at 31 March 2009. Interest on these loans ranged from 1.50% to 10.20% (2007-08:
2.20%) per annum.
As at 31 March 2009, two of the unsecured term loans amounting to $3.4 million, which commenced on
10 April 2003 and 26 February 2008, are repayable in 240 and 60 instalments respectively. Interest on the
unsecured term loans are charged at the bank’s prevailing prime rate on monthly rest. The effective interest
rates ranged from 4.20% to 4.50% (2008: 4.20% to 4.50%) per annum.
NOTES TO THE FINANCIAL STATEMENTS
31 March 2009