Alaska Airlines and Horizon Air 2012 Annual Report Download - page 129

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In addition, we received reimbursement from Los
Angeles World Airport (LAWA) for our construction
of Terminal 6 at LAX of $178 million.
We plan to meet our capital and operating
commitments through internally generated funds
from operations and cash and marketable
securities on hand, along with additional debt
financing if necessary.
Bank Line-of-Credit Facility
The Company has two $100 million credit
facilities. Both facilities have variable interest
rates based on LIBOR plus a specified margin.
Borrowings on one of the $100 million facilities,
which expires in August 2015, are secured by
aircraft. Borrowings on the other $100 million
facility are secured by certain accounts
receivable, spare engines, spare parts and
ground service equipment. We modified the first
facility in 2012 by extending the term from March
2013 to August 2015 and the second facility in
2011 by extending the term from March 2014 to
March 2016, and reduced the commitment fee
for both facilities. The Company has no
immediate plans to borrow using either of these
facilities.
41
ŠForm 10-K