Financial report / Explanations and comments on the Balance Sheet / 30. Finance lease liabilities
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Finance lease liabilities

The Group leases aircraft under finance lease agreements. Leased aircraft are listed in Note 1 above:

2012 2011
Total outstanding payments 2,233.0 1,796.3
Interest (351.3) (296.8)
Principal outstanding 1,881.7 1,499.5
Representing:
Current lease liabilities 246.3 202.8
Non-current lease liabilities 1,635.4 1,296.7
1,881.7 1,499.5
2012 2011
Due for repayment: Principal Interest Total payments Principal Interest Total payments
On demand or within one year 246.3 65.4 311.7 202.8 49.6 252.4
In two to five years 771.8 191.7 963.5 595.2 150.6 745.8
After five years 863.6 94.2 957.8 701.5 96.6 798.1
1,881.7 351.3 2,233.0 1,499.5 296.8 1,796.3

Interest unpaid as at 31 December 2012 amounted to approximately USD 3.6 million (31 December 2011: USD 2.9 million) and is included in accounts payable and accrued liabilities. The effective interest rate as at 31 December 2012 was approximately 3.7% per annum (31 December 2011: 3.6% per annum).

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