Other assets (Tables)

3 Months Ended

12 Months Ended

Jul. 31, 2012

Apr. 30, 2012

Components of other assets

	July 31, 2012		April 30, 2012
Current:
Aircraft operating lease funded residual value guarantees	$	10,207	$	7,004
Foreign currency embedded derivatives and forward contracts (note 11)		5,341		6,524
Deferred financing costs		8,225		7,880
Mobilization costs		4,961		4,780
Prepaid aircraft rentals		4,507		4,958
Residual value guarantee		2,109		2,049
	$	35,350	$	33,195
Non-current:
Aircraft operating lease funded residual value guarantees	$	196,759	$	190,147
Deferred financing costs		48,389		50,698
Prepaid aircraft rentals		14,057		13,730
Mobilization costs		14,322		13,789
Residual value guarantee		11,310		11,632
Foreign currency embedded derivatives and forward contracts (note 11)		1,014		1,695
Accrued pension asset		26,632		19,449
Pension guarantee assets		4,733		4,974
Aircraft deposits		68,771		44,557
Security deposits		6,020		10,027
Other assets		2,799		2,405
	$	394,806	$	363,103

	2012		2011
Current:
Aircraft operating lease funded residual value guarantees (a)	$	7,004	$	9,232
Foreign currency embedded derivatives and forward contracts		6,524		9,389
Deferred financing costs		7,880		6,857
Mobilization costs		4,780		5,339
Prepaid aircraft rentals		4,958		3,870
Residual value guarantee		2,049		1,547
	$	33,195	$	36,234
Non-current:
Aircraft operating lease funded residual value guarantees (a)	$	190,147	$	164,339
Deferred financing costs		50,698		52,176
Prepaid aircraft rentals		13,730		15,563
Mobilization costs		13,789		10,328
Residual value guarantee		11,632		9,358
Foreign currency embedded derivatives and forward contracts		1,695		8,765
Accrued pension asset (note 20)		19,449		15,326
Pension guarantee assets (note 20)		4,974		5,406
Aircraft deposits		44,557		37,268
Security deposits		10,027		512
Other assets		2,405		12
	$	363,103	$	319,053

(a) Aircraft operating lease funded residual value guarantees:

The aircraft operating lease funded residual value guarantees includes amounts due from lessors on the financing of 112 aircraft under operating leases as at April 30, 2012 (2011 – 128 aircraft). Such guarantees bear interest at 0% to 10% (2011 – 0% to 10%) with principal and accrued interest due at maturity. These guarantees mature between fiscal 2013 and 2022. The Company believes that the aircraft will realize a value upon sale at the end of the lease terms sufficient to recover the carrying value of these guarantees, including accrued interest. In the event that aircraft values decline such that the Company does not believe funded residual value guarantees are recoverable, an impairment is recorded. During the year ended April 30, 2012, the Company recognized $7.4 million of interest income on these guarantees (2011 - $6.9 million, 2010 – $5.6 million) and $0.3 million of impairment recovery (2011 – $1.9 million, 2010 – $3.7 million of impairment losses).