Westjet 2012 Annual Report Download - page 33

WestJet 2012 Annual Report / 33
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i
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A
V
r
L
IQUIDITY
A
L
iquidity
T
he airline ind
u
m
perative to a
c
ompleted 201
2
2
011. This incr
o
ffsetting the
$
n
terest paid, a
n
P
art of our ca
s
b
alance at Dec
e
T
ypically, we h
a
n
ormal and str
e
s
ales balance.
W
e monitor ca
p
a
djusted debt-
t
s
heet aircraft
o
D
ecember 31,
r
esult of net
e
D
ecember 31,
D
ecember 31,
2
O
ur current ra
t
D
ecember 31,
2
a
ccounts paya
b
D
uring the thir
d
a
vailable to us
w
as secured b
y
S
elec
t
cash f
lo
(
$ in thousands)
C
ash provided b
y
L
ess:
Cash used by i
Cash used by
f
C
ash flow from
o
E
ffect of forei
g
n
N
et change in ca
C
ash and cash e
q
C
ash and cash e
q
O
perating ca
s
D
uring 2012,
m
provement o
w
ell as an incr
e
f
low increased
o
ver year. Op
e
o
utstanding as
A
t December
3
V
acations; $7.
6
r
equirements,
$
A
ND CAPIT
A
u
stry is highly
n airline’s suc
c
2
with a cash
a
r
ease in our c
a
$
269.3 million
n
d the combin
e
s
h and cash e
q
e
mber 31, 20
1
a
ve cash and
c
e
ssed conditio
n
p
ital on a num
b
t
o-equity ratio
o
perating leas
e
2011, mainly
d
e
arnings more
2012, our ad
j
2
011, attributa
t
io, defined as
2
011 due mai
n
b
le and accrue
d
d
quarter of 2
0
with a syndic
a
y
our Calgary
C
lo
w informat
i
y
operating activ
nvesting activiti
e
f
inancin
g
activiti
e
o
perating, investi
exchan
g
e on ca
s
sh and cash eq
u
q
uivalents, begi
n
q
uivalents, end
o
s
h flo
w
s
cash from op
o
f 27.4 per ce
n
e
ase in non-ca
s
to $5.31 per
s
e
rating cash f
l
a result of our
3
1, 2012 restri
6
million (201
1
$
0.9 million (2
0
A
L RESOUR
C
sensitive to u
n
c
ess. Our consi
s
a
nd cash equi
v
a
sh position w
a
in capital ex
p
e
d total of $14
q
uivalents bal
a
1
2, was $480.
9
c
ash equivalen
t
n
s. At Decemb
e
b
er of measur
e
at December
3
e
s. This was
a
d
ue to the slig
than offsetti
n
j
usted net de
b
ble to the incr
e
current asset
s
ly to the incre
a
d
liabilities mor
0
12, we electe
d
a
te of three Ca
C
ampus facility.
i
o
n
ities
e
s
e
s
ng and financin
g
s
h and cash equ
i
u
ivalents
n
ning of year
o
f year
erations incre
a
t. This year-o
v
sh working ca
p
s
hare, as com
p
l
ow per share
share buy-ba
c
cted cash con
1
– $6.6 milli
o
0
11 – $0.3 mill
C
ES
n
predictable ci
r
stent and stro
n
v
alents balanc
e
a
s a result of
o
p
enditures, th
e
9.6 million sp
e
a
nce relates to
9
million, an in
c
t
s on hand to
h
e
r 31, 2012,
w
e
s, including a
d
3
1, 2012 was
a
n 8.6 per ce
n
ht decrease i
n
n
g equity cost
s
b
t to EBITDA
R
e
ase in EBITD
A
s
over current
a
ses in our ad
v
e than offsetti
n
d
to terminate
nadian banks.
g
activities
valents
a
sed to $721
.
v
er-year incre
a
p
ital on a year
-
p
ared to $4.03
further bene
f
c
k program.
sisted of $43.
2
o
n) for securit
y
ion) for cash n
r
cumstances a
n
n
g financial re
s
e
of $1,408.2
m
o
ur positive ca
e
$132.7 milli
o
e
nt on our divi
d
cash collecte
d
crease of 11.3
h
ave sufficient
w
e had cash on
d
justed debt-t
o
1.38, which t
o
n
t improveme
n
n
adjusted deb
t
s
associated
w
R
ratio improv
A
R and cash a
n
liabilities, was
v
ance ticket sa
l
n
g the year-ov
e
and cancel th
e
The line of cr
e
.
6 million co
m
a
se was mainly
-over-year bas
per share in
2
f
itted from th
e
2 million (201
y on letters o
ot yet remitte
d
s
n
d, as such,
m
s
ults are visibl
e
m
illion, compar
a
sh flow from
o
o
n in net airc
d
end and shar
e
d
with respect
per cent fro
m
liquidity to m
e
n
hand of 2.93
o
-equity and a
d
o
ok into consid
n
t from our a
d
t
as well as t
h
w
ith our shar
e
v
ed by 38.1 p
e
n
d cash equiva
l
1.38 at Dece
m
l
es, the curren
t
e
r
-year increa
s
e three-year r
e
e
dit was avail
a
2012
721,
6
(269,3
(288,0
164,
2
3
164,
5
1,243,
6
1,408,
1
m
pared to $5
6
y
the result of
s
is. Similarly, o
n
2
011, represe
n
e
reduction in
1 – $41.4 mil
l
o
f guarantee;
a
d
for passenge
r
s
m
aintaining a s
t
e
in the health
r
ed to $1,243.
6
o
perations of
$
c
raft financing
e
buy-back pro
g
to advance ti
m
$432.2 millio
n
e
et our liabiliti
e
(2011 – 2.88)
d
justed net de
b
d
eration $1,30
0
d
justed debt-t
o
h
e increase in
e
buy-back an
d
e
r cent to 0.
8
l
ents.
m
ber 31, 201
2
t portion of m
a
s
e in cash and
e
volving opera
t
a
ble to a maxi
m
201
6
34
5
07) (1
1
54) (3
6
2
73
3
21
(
5
94
6
05 1,
1
1
99 1,
2
6
6.5 million i
n
higher net ea
r
n a per share
n
ting an incre
a
our diluted
w
l
ion) for cash
a
nd, in accor
d
r
facility charg
e
s
trong financial
of our balanc
e
6
million at De
c
$
721.6 million
outflows, incl
u
g
rams in 2012
.
cket sales, for
n at Decembe
r
e
s, when due,
times our ad
v
b
t to EBITDAR
0
.6 million in
o
o
-equity ratio
shareholders’
e
d dividend pr
o
8
6, compared
2
as compared
a
intenance pro
v
cash equivale
n
ting line of cr
e
m
um of $76.5
1 C
h
5
66,460
1
8,373)
6
2,675)
85,412
(
1,123)
84,289
1
59,316
2
43,605
n
2011, repre
s
r
nings from op
basis, our ope
a
se of 31.8 pe
r
w
eighted aver
a
held in trust
b
d
ance with US
e
s.
│
position is
e
sheet. We
c
ember 31,
more than
u
ding cash
.
r
which the
r
31, 2011.
under both
v
ance ticket
ratios. Our
o
ff-balance-
of 1.51 at
e
quity as a
o
grams. At
to 1.39 at
to 1.51 at
visions and
n
ts.
e
dit we had
million and
h
ange
27.4%
127.5%
(20.6%)
92.3%
128.6%
95.3%
7.3%
13.2%
senting an
erations as
rating cash
r
cent year
a
ge shares
b
y WestJet
regulatory