Singapore Airlines 2012 Annual Report Download - page 168

Download and view the complete annual report

Please find page 168 of the 2012 Singapore Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 206

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206

166 SINGAPORE AIRLINES
Notes to the Financial Statements
31 March 2012
35 Capital and Other Commitments (in $ million) (continued)
(b) Operating lease commitments (continued)
As lessee (continued)
Aircraft (continued)
Future minimum lease payments under non-cancellable operating leases are as follows:
The Group The Company
31 March 31 March
2012 2011 2012 2011
Not later than one year 561.5 587.2 492.2 525.1
Later than one year but not later than five years 1,968.1 1,717.7 1,768.9 1,508.0
Later than five years 927.0 455.0 828.0 360.7
3,456.6 2,759.9 3,089.1 2,393.8
Engines
During the financial year, the Company entered into operating lease agreements for 4 GE90-115B engines with fixed
rental rates. The basic lease term for each engine is 6 years and 10 months with an option to extend the lease for a
further maximum period of 6 years.
Future minimum lease payments under non-cancellable operating leases are as follows:
The Group The Company
31 March 31 March
2012 2011 2012 2011
Not later than one year 8.5 - 8.5 -
Later than one year but not later than five years 34.1 - 34.1 -
42.6 - 42.6 -
Property and equipment
The Group has entered into operating lease agreements for office and computer equipment, leasehold land and
buildings. These non-cancellable leases have lease terms of between 1 to 30 years.
Future minimum lease payments under non-cancellable operating leases are as follows:
The Group The Company
31 March 31 March
2012 2011 2012 2011
Not later than one year 59.5 64.4 42.7 48.0
Later than one year but not later than five years 87.2 93.3 62.3 71.1
Later than five years 86.4 81.6 20.0 12.5
233.1 239.3 125.0 131.6
The minimum lease payments recognised in the profit and loss account amounted to $63.8 million (2010-11: $62.3
million) and $52.8 million (2010-11: $54.8 million) for the Group and the Company respectively.