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24 WestJet 2009 Annual Report
Contingencies
We are party to certain legal proceedings that arise during the
ordinary course of business. It is the opinion of management that
the ultimate outcome of these matters will not have a material
effect upon our financial position, results of operations or
cash fl ows.
Share capital
Our issued and outstanding voting shares, along with voting
shares potentially issuable, are as follows:
Commencing in the third quarter of 2009, we have available a
three-year revolving operating line of credit with a syndicate of
three Canadian banks. The line of credit is available for up to a
maximum of $85 million and is secured by our Campus facility.
The line of credit bears interest at prime plus 0.50 per cent per
annum, or a bankers acceptance rate at 2.0 per cent annual
stamping fee, and is available for general corporate expenditures
and working capital purposes. We are required to pay a standby
fee of 15 basis points, based on the average unused portion of
the line of credit for the previous quarter, payable quarterly. As at
December 31, 2009, no amounts were drawn on this facility.
Series
600s 700s 800s Total fl eet
Leased Owned Total Leased Owned Total Leased Owned Total Leased Owned Total
Fleet at December 31, 2008 — 13
13 18 38 56 6 1 7 24 52 76
Fleet at December 31, 2009 — 13
13 25 38 63 8 2 10 33 53 86
Commitments:
2010 — —
— 2 — 2 3 — 3 5 — 5
2011 — —
— 4 2* 6 1 — 1 5 2 7
2012 — —
— — 6* 6 1 — 1 1 6 7
2013 — —
— — 6* 6 — — — — 6 6
2014 — —
— — 6* 6 — — — — 6 6
2015 — —
— — 10* 10 — — — — 10 10
2016 — —
— — 8* 8 — — — — 8 8
Total commitments — — — 6 38 44 5 — 5 11 38 49
Committed fl eet as of 2016 — 13 13 31 76 107 13 2 15 44 91 135
*We have an option to convert any of these future aircraft to 737-800s.
Number of shares
February 12, 2010 December 31, 2009
Issued and outstanding:
Common voting shares 138,479,680 138,763,891
Variable voting shares 6,086,864 5,595,492
Total common shares issued and outstanding 144,566,544 144,359,383
Common shares potentially issuable:
Stock options 9,761,463 11,521,844
RSUs 143,461 143,461
PSUs 191,276 191,276
Total common shares potentially issuable 10,096,200 11,856,581
Total outstanding and potentially issuable common shares 154,662,744 156,215,964