Alberta · CCAA
First Report of the Monitor
Court officer report · 28 February 2024
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What we verified from this filing5 verified
- financial positionnote: Total assets not stated as a single sum by the document; current assets of $53.3 million and non-current assets of $375.7 million are stated separately and not summed per reporting rules. · page: 8 · as at: 2023-12-31 · basis: Unaudited; per Applicants' books and records, summarized in Monitor's First Report (a detailed breakdown is provided in the First Woodward Affidavit) · scope: Consolidated - Lynx Air Holdings Corporation and 1263343 Alberta Inc. dba Lynx Air (the Applicants) · currency: CAD · total liabilities: 599900000
- secured creditorsnote: Described as 'approximately $93.5 million in aggregate principal owed' pursuant to six secured promissory notes. Indigo is a related pre-filing secured lender that also became the post-filing Interim (DIP) Lender under a separate Interim Facility (not included in this pre-filing figure). No specific balance date stated in the document for this pre-filing amount. · page: 9 · amount: 93500000 · debtor: Lynx Air Holdings Corporation and 1263343 Alberta Inc. dba Lynx Air · creditor: Indigo Northern Ventures LOP · currency: CAD · security: Six secured promissory note agreements
- secured creditorsnote: Aggregate figure stated by document for all Aircraft Lessors combined; not broken down by individual lessor. No specific balance date stated. · page: 9 · amount: 344800000 · debtor: Lynx Air Holdings Corporation and 1263343 Alberta Inc. dba Lynx Air · creditor: Aircraft Lessors (collectively, multiple lessors) · currency: CAD · security: Nine 12-year aircraft lease agreements for the Fleet (9 Boeing 737 MAX 8 aircraft) and three engine lease agreements for three CFM LEAP-1B25 spare engines (collectively, the 'Aircraft Leases')
- secured creditorsnote: No specific balance date stated by document. · page: 9 · amount: 5900000 · debtor: 1263343 Alberta Inc. dba Lynx Air (Lynx Opco) · creditor: ATB Financial · currency: CAD · security: Series of Assignment of Deposit Certificates dated between May 2020 and November 2023, standing as security for Letters of Credit and credit cards issued by ATB
- secured creditorsnote: Document classifies this as an UNSECURED obligation (GST incurred on importation of six aircraft and three engines into Canada), included here per instruction to record quasi-governmental/CRA-related indebtedness as its own entry given priority significance. Approximately $25.5 million of the $26.6 million is subject to a payment arrangement with Canada Revenue Agency dated November 7, 2023. · page: 10 · amount: 26600000 · debtor: 1263343 Alberta Inc. dba Lynx Air (Lynx Opco) · creditor: Canada Border Services Agency / Canada Revenue Agency · currency: CAD