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Loans and Borrowings

Loans and Borrowings

32. Loans and borrowings are specified as follows:

        

Non-current borrowings from credit institutions  

30,961

Convertible notes  

1,860 

Short-term loans from credit institutions

1,945

Total loans and borrowings

34,766

Current maturities and short-term loans

( 4,614 )

Loans to finance prepaid aircraft acquisition

( 8,545 )

Non-current loans and borrowings total

21,607




33. Non-current borrowings from credit institutions are specified as follows:

 

       

 

Average
Interest rates

Total
Remaining
Balance 

Debt in USD 

 6.1%

 24,430

Debt in EUR 

 6.3%

2,623 

Debt in GBP 

 8.6%

 353

Debt in NOK

7.2%

167

Debt in JPY

3.7%

124

27,697

Debt in ISK indexed

6.5%

781

Debt in ISK not indexed

17.5%

2,483

Total non-current borrowings

30,961




The Company is working on restructuring unfavourable loans in the amount of ISK 5,000
millions. The loan will be in different compositions of currencies and the restructuring will
be finalized at the end of February.


34. Contractual repayments of non-current borrowings are specified as follows:

        

Financing of prepaid aircraft acquisition 

8,545 

Other repayments

2,669

Repayments in 2007

11,214

Repayments in 2008

3,526

Repayments in 2009

2,025

Repayments in 2010

7,211

Repayments in 2011

3,394

Subsequent repayments

 3,591

Total non-current borrowings

 30,961



 



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