Singapore Airlines 2010 Annual Report Download - page 145

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ANNUAL REPORT 2009/10
143
18 Long-Term Liabilities and Provisions (in $ million)
The Group The Company
31 March 31 March
2010 2009 2010 2009
Notes payable 900.0 1,100.0 900.0 900.0
Current - (200.0) - -
Non-current 900.0 900.0 900.0 900.0
Loans - 44.0 - -
Current - (32.7) - -
Non-current - 11.3 - -
Finance lease commitments 438.9 548.5 - -
Current (64.5) (66.9) - -
Non-current 374.4 481.6 - -
Provisions 199.2 155.9 142.6 114.8
Current (35.5) (35.3) (9.5) (26.7)
Non-current 163.7 120.6 133.1 88.1
Total long-term liabilities and provisions 1,438.1 1,513.5 1,033.1 988.1
Notes payable
Notes payable at 31 March 2010 comprise unsecured long-term notes issued by the Company, which bear fixed interest at
4.15% (2008-09: 4.15%) per annum and are repayable on 19 December 2011. Notes payable at 31 March 2009 included
unsecured medium-term notes issued by SATS, which bore fixed interest at 3.00% per annum. The fair value of notes
payable amounted to $936.4 million for the Group (2009: $1,109.3 million) and the Company (2009: $909.0 million).
Loans
During the financial year, the Group repaid an unsecured loan of $0.8 million which was a revolving credit facility
denominated in USD taken by a subsidiary company bearing interest of 1.20% per annum over the bank prevailing
Singapore Interbank Offered Rate. The Group also repaid unsecured revolving bank loans where interest was charged
based on monthly floating rates and the effective interest rates ranged from 1.95% to 3.85% per annum.
Apart from the above loans, the remaining loans as at 31 March 2009 were related to SATS Group that was disposed
during the financial year (Note 22).
$17.8 million of the remaining loans were 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% per annum.