Westjet 2013 Annual Report Download - page 96

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WestJet Annual Report 2013 96
Notes to Consolidated Financial Statements
As at and for the years ended December 31, 2013 and 2012
(Stated in thousands of Canadian dollars, except percentage, ratio, share and per share amounts)
17. Commitments
(a) Purchased aircraft and spare engines
At December 31, 2013, the Corporation is committed to purchase 13 737-700 and 12 737-800 Next Generation aircraft as well
as 25 737 MAX 7 and 40 737 MAX 8 aircraft for delivery between 2014 and 2017 and 2017 and 2027, respectively. The
Corporation is also commitment to purchase 12 Q400 NextGen aircraft for delivery between 2014 and 2015 and a total of 11
Boeing and Bombardier spare engines for delivery between 2014 and 2027.
The remaining estimated amounts to be paid in deposits and purchase prices for the 102 aircraft and 11 spare engines are
presented in the table below. Where applicable, US dollar commitments are translated at the period end foreign exchange rate.
Within 1 year 461,557
1 – 3 years 738,100
3 – 5 years 849,954
Over 5 years 2,433,585
4,483,196
(b) Operating leases and contractual commitments
The Corporation has entered into operating leases and other contractual commitments for aircraft, land, buildings, equipment,
computer hardware, software licenses and satellite programming. At December 31, 2013, the future payments under these
commitments are presented in the table below. Where applicable, US dollar commitments are translated at the period end
foreign exchange rate.
Within 1 year 226,144
1 – 3 years 311,368
3 – 5 years
177,894
Over 5 years 116,048
831,454
(c) Letters of guarantee
At December 31, 2013, the Corporation has a revolving letter of credit facility with a Canadian Chartered Bank totaling $30,000
(2012 – $30,000). The facility requires funds to be assigned and held in cash security for the full value of letters of guarantee
issued by the Corporation. At December 31, 2013, $8,322 (2012 – $7,562) letters of guarantee were issued under the facility by
assigning restricted cash of $8,322 (2012 – $7,562).
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4 1 73
46 0 6
22 0 2
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3 1 12
5 0 5
0 6 84
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