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Operating leases

Leases as lessee - non-cancellable operating lease rentals are payable as follows:

	2005 £m	2004 £m
Within one year	82	67
Between one and five years	270	245
After five years	134	159
	486	471

Leases as lessor - non-cancellable operating lease rentals are receivable as follows:

	2005 £m	2004 £m
Within one year	14	15
Between one and five years	23	36
After five years	7	14
	44	65

The Group acts as lessee and lessor for both land and buildings and gas turbine engines, and acts as lessee for some plant and machinery.

• Sublease payments of £16m (2004 £17m) and sublease receipts of £15m (2004 £16m) were recognised in the income statement in the period.
• Purchase options exist on aero engines with the period to purchase option date varying between four to eight years.
• Escalation clauses exist on some leases and are linked to LIBOR.
• The total of future minimum sublease payments expected to be made is £16m (2004 £28m) and sublease receipts expected to be received £2m (2004 £nil).

Finance leases

Finance lease liabilities are payable as follows:

	2005				2004
	Payments £m	Interest £m	Principal £m		Payments £m	Interest £m	Principal £m
Within one year	10	2	8		14	2	12
Between one and five years	17	4	13		26	6	20
After five years	1	—	1		1	1	—
	28	6	22		41	9	32

There were no contingent rents recognised as an expense in the period.

Future minimum sublease receipts of £nil (2004 £nil) are expected under non-cancellable subleases.