Westjet 2001 Annual Report Download - page 50

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48
Years ended December 31, 2001 and 2000
(Tabular Amounts are Stated in Thousands of Dollars)
4. Long-term debt:
2001 2000
$ 16,000,000 term loan repayable in monthly instalments of
$145,000 including interest at 7.125%, and additional principal
reduction payments of $667,000 upon retirement of the six cross-
collateralized aircraft, maturing August 2016, secured by the new
generation flight simulator and six cross-collateralized aircraft $ 15,700 $ 8,756
$ 12,000,000 term loan repayable in monthly instalments of
$108,000 including interest at 9.03%, maturing April 2011,
secured by the hangar facility 11,858 10,297
$ 4,257,000 term loan repayable in monthly instalments of $66,000
including interest at 8.39% and $2,943,000 term loan repayable in
monthly instalments of $47,000 including interest at 8.81%,
maturing October 2005, secured by one aircraft 4,961 5,858
$ 5,117,000 term loan repayable in monthly instalments of $76,000
including interest at 8.29% and $2,383,000 term loan repayable in
monthly instalments of $36,000 including interest at 8.36%,
maturing October 2005, secured by one aircraft 4,935 5,826
$ 5,759,000 term loan repayable in monthly instalments of $87,000
including interest at 8.42%, and $1,614,000 term loan repayable in
monthly instalments of $25,000 including interest at 8.49%,
maturing October 2005, secured by one aircraft 4,908 5,793
$ 6,500,000 term loan repayable in monthly instalments of $133,000
including interest at 8.38%, maturing May 2004, secured by
two aircraft 3,482 4,729
$ 7,500,000 term loan repayable in monthly instalments of $153,000
including interest at 8.13%, maturing April 2003, secured by
two aircraft 2,308 3,880
$ 7,500,000 term loan repayable in monthly instalments of $154,000
including interest at 8.50%, maturing November 2002, secured by
two aircraft 1,623 3,255
$ 3,364,000 term loan repayable in monthly instalments of $178,000
including interest at 6.36%, maturing November 2001 - 1,895
49,775 50,289
Less current portion 8,470 9,336
$ 41,305 $ 40,953
The net book value of the assets pledged as collateral for the Corporation’s secured
borrowings was $94,485,000 as at December 31, 2001.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS