26. INTEREST-BEARING LIABILITIES               31.12. 31.12.         Long-term 2005 2004         Bank loans 168.3 179.3         Pension loans 28.0 28.0         Finance lease liabilities 14.1 17.9         Other loans 0.0 0.0           210.4 225.2         Non-interest-bearing liabilities             Long-term             Pension liabilities 4.5 4.7         Interest-bearing liabilities, total 214.9 229.9                       Interest-bearing liabilities             #Current 2005 2004         Cheque account facilities 1.0 0.6         Bank loans 25.9 25.8         Finance lease liabilities 3.8 3.6         Other loans 22.0 19.3         Total 23.0 19.9                       Maturity dates of interest-bearing financial liabilities 2006 2007 2008 2009 2010 Later Bank loans, fixed interest 16.8 17.1 17.1 17.1 7.5   Bank loans, variable interest 9.1 9.2 9.3 9.4 14.0 67.6 Finance lease liabilities 3.8 4.1 4.2 1.4 0.9 3.5 Pension loans           28.0 Other loans 23.0             52.7 30.4 30.6 27.9 22.4 99.1               Current liabilities: Maturing within 12 months           52.7 Non-current liabilities: Maturing after 12 months           210.4               Most of the Group's financial liabilities are short-term or on variable interest, so their carrying amount is not deemed to differ substantially from their fair value. The fair value of long-term liabilities excluding repayments is 212.7 million euros and carrying amount 210.4 million euros. The Group's financial liabilities include long-term currency and interest rate swaps that hedge USD-denominated aircraft financing loans.             The currency mix of interest-bearing long-term liabilities is as follows:               2005           EUR 212.5           USD 50.6             263.1                         Weighted average effective interest rates on interest-bearing long-term liabilities 31 Dec 2005                                         Bank loans 3.6%                                       The Group's fixed-interest USD-denominated aircraft financing liabilities have been hedged with long-term currency and interest rate swap contracts. The difference of the nominal and fair value of the fixed-interest derivative contracts is recognised in the equity hedge reserve, and the loans which are the underlying asset are recognised at their nominal value. A change of fair value of variable-interest derivative contracts and the loans corresponding to them is recognised in the income statement's financial items. The foreign exchange risk of variable-interest USD loans is covered by short-term currency derivatives.             Finance lease liabilities                           Minimum lease payments               31.12. 31.12.         EUR mill. 2005 2004         Up to 1 year 4.9 4.9         1 - 5 years 12.8 16.5         More than 5 years 4.2 5.4           21.9 26.8         Future financial expenses 4.0 5.3                                     Finance lease liabilities - Present value of minimum lease payment               31.12. 31.12.         EUR mill. 2005 2004         Up to 1 year 3.8 3.6         1 - 5 years 10.5 13.5         More than 5 years 3.6 4.4           17.9 21.5                       Finance lease liabilities, total 17.9 21.5