Westjet 2015 Annual Report Download - page 96

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Notes to Consolidated Financial Statements
As at and for the years ended December 31, 2015 and 2014
(Stated in thousands of Canadian dollars, except percentage, ratio, share and per share amounts)
WestJet Annual Report 2015 | 94
15. Commitments
(a) Purchased aircraft and spare engines
At December 31, 2015, the Corporation is committed to purchase six 737 Next Generation aircraft for delivery between 2016 and
2017, 65 737 MAX aircraft for delivery between 2017 and 2027 and two 767 aircraft for delivery in 2016. The Corporation is also
committed to purchase 12 Q400 NextGen aircraft for delivery between 2016 and 2017 and a total of 11 Boeing and Bombardier
spare engines for delivery between 2016 and 2026.
The remaining estimated deposits and delivery payments for the 85 aircraft and 11 spare engines are presented in the table
below. Where applicable, US dollar commitments are translated at the period end foreign exchange rate.
Within 1 year
614,303
1 – 3 years
1,136,713
3 – 5 years
988,923
Over 5 years
2,363,297
5,103,236
(b) Leases and contractual commitments
The Corporation has entered into leases and other contractual commitments for aircraft, land, buildings, equipment, computer
hardware, software licenses and inflight entertainment. At December 31, 2015, the future payments under these commitments
are presented in the table below. Where applicable, US dollar commitments are translated at the period end foreign exchange
rate.
Within 1 year
317,041
1 – 3 years
418,144
3 – 5 years
227,798
Over 5 years
124,677
1,087,660
(c) Letters of guarantee
At December 31, 2015, the Corporation has a revolving letter of credit facility totaling $30,000 (December 31, 2014 – $30,000).
The facility requires funds to be assigned and held in cash security for the full value of letters of guarantee issued by the
Corporation. At December 31, 2015, $13,366 (December 31, 2014 – $9,515) letters of guarantee were issued under the facility
by assigning restricted cash.