Westjet 2012 Annual Report Download - page 25

WestJet 2012 Annual Report / 25
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i
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a
a
f
o
i
n
i
n
O
ur fuel costs
p
p
er litre in the
s
p
er barrel in 2
0
a
verage U.S.
d
a
pproximately
4
U
nder our fuel
f
or up to 36 m
h
edging progr
a
c
ompletion of
a
r
emaining con
t
D
ecember 31,
2
t
em in our con
m
ovements in
m
arkets and c
o
T
he following
t
s
tatement of fi
n
e
nded Decemb
e
(
$ in thousands)
C
onsolidated Sta
Receivable fro
m
Fair value
C
onsolidated Sta
Realized gain
Non-operatin
g
F
or 2013, we
e
o
ne US-dollar
c
c
hanges in fuel
A
irport oper
at
A
irport operati
o
s
ervice and
c
a
ccommodatio
n
e
nded Decemb
$
421.6 million
c
ents in 2011.
y
ear-over-year
,
n
crease in vol
u
n
crease in co
m
M
arketin
g
, g
e
M
arketing larg
e
a
dministration
a
dministration
e
f
rom $186.3 m
i
o
f 6.8 per cent
n
centive accr
u
n
formation tec
p
er litre increa
s
s
ame period o
f
0
11, an increa
d
ollar on a y
e
4
.0 per cent to
price risk man
onths, as app
r
a
m based on
a
n in-depth int
t
racts were e
x
2
012. This res
solidated stat
e
fuel prices th
r
o
mpetitive con
d
t
able presents
n
ancial positio
n
e
r 31, 2012 an
tement of Finan
c
m
counterpartie
s
tement of Earni
n
loss
e
stimate our s
e
c
hange per b
a
pricing to be
a
at
ion
s
o
ns expense c
o
c
harter opera
t
n
s for displace
d
er 31, 2012,
o
in 2011. Airpo
To support o
u
,
which are hig
u
me and servi
c
m
pensation cos
t
e
neral and a
d
e
ly consists of
costs consist
o
e
xpense for t
h
i
llion in the 20
1
from 0.88 cen
u
al, including
a
hnology opera
t
s
ed by 3.4 per
f
2011. On av
e
se of approxi
m
e
ar-over-year
$130 per barr
agement polic
y
r
oved by our
B
our strong fi
n
e
rnal analysis
x
tinguished d
u
ulted in a non
e
ment of earni
n
r
ough our rev
e
d
itions warrant
the financial
n
as at Decem
b
d 2011.
S
t
c
ial Position:
s
A
P
ng
s:
A
L
e
nsitivity of fu
e
a
rrel of West
T
a
pproximately
$
o
nsists primaril
y
t
ions. Also in
c
d
guests for s
i
o
ur airport ope
r
rt operations
e
u
r network ex
p
her-cost airpo
r
c
e along with a
t
s included wit
h
d
ministratio
n
expenses suc
h
o
f corporate o
f
h
e year ended
1
1. Marketing,
ts in 2011. Th
e
a
mounts purs
u
t
ing costs to s
u
cent to 92 ce
n
e
rage, the mar
k
m
ately 3.2 per
basis, the av
e
el from $125
p
y
, we are per
m
B
oard of Direc
t
n
ancial positio
n
on the cost of
u
ring the sec
o
-operating los
s
n
gs for the yea
enue manage
m
.
impact and s
t
b
er 31, 2012 a
n
tatement pres
e
A
ccounts receiva
b
P
repaid expense
s
A
ircraft fuel
L
oss on derivativ
e
e
l costs to ch
a
T
exas Interm
e
$
12 million for
y
of airport la
n
c
luded in ai
r
i
tuations beyo
n
r
ations expen
s
e
xpense per A
S
p
ansion we ha
v
r
ts, and we ha
v
nnual market
a
h
in airport ope
h
as advertisin
g
f
fice departm
e
December 31,
general and a
d
e
increase was
u
ant to our O
w
u
pport our stra
n
ts per litre du
r
k
et price for je
t
cent. With th
e
e
rage market
p
er barrel in 20
m
itted to hedg
e
t
ors. During th
n
and our abi
the program
i
o
nd quarter, l
s
of $1.7 millio
r ended Dece
m
m
ent strategy
tatement pres
e
n
d 2011 and o
n
entation
ble
s
, deposits and o
t
e
s
nges in crude
e
diate (WTI)
c
every one-cen
n
ding and term
port operatio
n
n
d our control
,
s
e was $454.1
S
M was 2.06 c
ve increased
o
v
e also experie
a
nd merit adju
rations.
g
, promotions
a
nts, professio
n
2012 was $2
0
d
ministration e
primarily attri
b
w
ners’ Perfor
m
tegic projects
u
r
ing the year e
n
t fuel was US
$
e
average Ca
n
price for jet
0
11.
e
a portion of
o
e first quarter
i
lity to adjust
i
n comparison
l
eaving no fu
e
o
n included in
t
m
ber 31, 2012.
and may re-
v
entation of o
u
n
the consolid
a
t
her
oil to be appr
c
rude oil. Addi
t
n
t change per l
i
inal fees and
g
n
s are costs
,
such as incl
e
million, a $32
.
c
ents for 2012
,
o
ur volume of
e
nced rate incr
e
u
stments contri
a
nd live satelli
t
n
al fees and i
n
0
8.6 million, a
e
xpense per A
S
butable to a y
e
m
ance Award,
u
ndertaken du
y
nded Decemb
e
$
130 per barr
e
n
adian dollar s
l
fuel in Canad
o
ur future anti
c
of 2012, we
d
to volatile fu
e
to its potentia
e
l derivative
c
the $6.5 millio
.
We will conti
n
v
isit our hedgi
n
u
r fuel derivat
a
ted statement
2012
(6,51
r
oximately $7
m
t
ionally, we e
s
itre of fuel.
g
round handlin
relating to
e
ment weather
.
6 million or 7
.
,
an increase
o
service out o
f
e
ases for som
e
bute to the 9.
9
t
e television li
c
n
surance costs
$22.3 million
o
S
M was 0.94 c
e
e
ar-over-year i
in addition t
o
ring 2012.
e
e
r 31, 2012 fro
e
l in 2012 vers
u
l
ightly weaker
ian dollars in
c
c
ipated jet fue
l
d
ecided to cea
el prices alon
g
l benefits. As
a
c
ontracts out
s
o
n loss on deri
v
n
ue to mitigat
e
n
g program a
s
ives on the c
o
t
of earnings f
o
20
―
―
―
2)
m
illion annuall
y
s
timate our s
e
g costs for ou
r
flight cancell
a
r
conditions. F
o
.
7 per cent inc
o
f 3.5 per cen
t
f
our major ai
r
e
of our destin
a
9
per cent yea
r
c
ensing fees.
G
s
. Marketing,
g
o
r 12.0 per ce
e
nts for 2012,
a
ncrease in the
o
a higher inv
│
m 89 cents
u
s US $126
versus the
c
reased by
l
purchases
se our fuel
g
with the
a
result, all
s
tanding at
v
atives line
e
the risk of
s changing
o
nsolidated
o
r the years
11
27
7,611
2,656
(6,052)
y for every
e
nsitivity to
r
scheduled
a
tions and
o
r the year
c
rease from
t
from 1.99
r
port bases
a
tions. This
r-over-year
G
eneral and
g
eneral and
nt increase
a
n increase
short-term
estment in