Westjet 2000 Annual Report Download - page 31

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4. Long-term debt (continued):
Future scheduled repayment of long-term debt is as follows:
2001 $ 9,336
2002 8,148
2003 5,845
2004 4,753
2005 and thereafter 23,910
$ 51,992
The Corporation has available a facility with a chartered bank of $2,000,000 for letters of guarantee and
$7,000,000 U.S. for forward foreign exchange contracts. At December 31, 2000, letters of guarantee
totaling $925,000 have been issued under these facilities. The credit facilities are secured by a fixed first
charge on one aircraft, a general security agreement and an assignment of insurance proceeds.
The cash interest paid in the year was $3,212,000.
5. Leases:
The Corporation has entered into operating leases for aircraft, buildings, computer hardware and
software licenses and capital leases relating to computer hardware and an aircraft. The obligations
on a calendar-year basis, are as follows (see note 8 for additional lease commitments):
Capital Operating
Leases Leases
2001 $ 2,417 $ 11,963
2002 2,396 11,279
2003 2,294 8,797
2004 2,247 6,803
2005 and thereafter 3,370 17,937
Total lease payments 12,724 $ 56,779
Less imputed interest at 8.73% 2,608
Net minimum lease payments 10,116
Current portion of obligations under capital lease 1,597
Obligations under capital lease $ 8,519
Sandy is our Senior Vice President
and Chief Financial Officer.
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