Singapore Airlines 2009 Annual Report Download - page 182
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180
34 Capital and Other Commitments (in $ million) (continued)
(b) Operating lease commitments (continued)
As lessee (continued)
Property and equipment
The Group has entered into operating lease agreements for offi ce and computer equipment, leasehold
land and buildings. These non-cancellable leases have lease terms of between 1 to 30 years.
Future lease payments under non-cancellable operating leases are as follows:
The Group The Company
31 March 31 March
2009 2008 2009 2008
Not later than one year 62.6 77.3 49.1 70.2
Later than one year but not later
than fi ve years 101.8 85.3 73.6 69.8
Later than fi ve years 54.2 25.2 8.4 0.9
218.6 187.8 131.1 140.9
The minimum lease payments recognised in the profi t and loss account amounted to $63.7
million (2007-08: $66.0 million) and $53.3 million (2007-08: $58.1 million) for the Group and the
Company respectively.
As lessor
Aircraft
During the fi nancial year, the commercial lease for one aircraft ended and the Group entered into a
new commercial aircraft lease. This non-cancellable lease has a remaining lease term of six years and
fi ve months. The lease rental is fi xed throughout the lease term.
Future minimum lease receivables under non-cancellable operating leases are as follows:
The Group
31 March
2009 2008
Not later than one year - 4.8
Later than one year but not later than fi ve years 59.1 -
Later than fi ve years 20.9 -
80.0 4.8
NOTES TO THE FINANCIAL STATEMENTS
31 March 2009