WestJet Airlines Closes Equity Offering

Western Canada’s WestJet Airlines Ltd. completed an $82.5 million offering of common shares on March 7, 2002. Pursuant to a short-form prospectus dated February 28, 2002, WestJet issued three million common shares through a syndicate of underwriters led by CIBC World Markets Inc. and HSBC Securities (Canada) Inc. Proceeds of the offering will be used for the acquisition of additional aircraft, spare parts, flight simulators and installation, pre-delivery payments on the new aircraft and for general working capital purposes.

WestJet was represented by Burnet, Duckworth & Palmer LLP, with a team that included Daryl Fridhandler, Stephen Chetner and James Bell. The underwriters were represented by Blake, Cassels & Graydon LLP, with a team that included Brock Gibson and Chad Schneider.