Annual Report 2008-2009 - Emirates.com

Emirates
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10. Property, plant and equipment (continued)
The net book amount of property, plant and equipment includes AED 10,469.4 million (2008: AED 6,385.4 million) in respect of
aircraft and AED 369.3 million (2008: AED 431.7 million) in respect of aircraft engines held under finance leases.
The net book amount of land and buildings, aircraft and aircraft engines and parts includes an amount of AED 339.0 million (2008:
AED 540.0 million) in respect of assets provided as security against term loans.
No depreciation is charged on land carried at AED 277.6 million (2008: AED 277.6 million).
Property, plant and equipment includes capitalised interest amounting to AED Nil (2008: AED 42.4 million).
Capital projects include pre-delivery payments of AED 3,529.6 million (2008: AED 4,012.5 million) in respect of aircraft (Note 28) due
for delivery between 2009 and 2020. An amount of AED Nil (2008: AED 345.7 million) has been transferred out of capital projects to
trade and other receivables consequent to the sale of purchase rights in certain aircraft.