Westjet 2005 Annual Report Download - page 37

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2005 WESTJET ANNUAL REPORT
35
This can create significant variances between actual results
and estimates, including the scheduling of our effective
tax rate and the potential realization of future tax assets
and liabilities.
The CICA released new standards related to financial
instruments in April 2005 – Financial Instruments –
Recognition and Measurement, Section 3855, Hedges,
Section 3865, Comprehensive Income, Section 1530,
Financial Instruments – Disclosure and Presentation,
Section 3861 and Equity, Section 3251. These sections
specify when a financial instrument or non-financial
derivative is to be recognized on the balance sheet. These
sections will require a financial instrument or non-financial
derivative to be measured at fair value or using cost-based
measures; establish how gains and losses are to be recognized
and presented, including introducing comprehensive
income; specify how hedge accounting should be applied;
and establish new disclosures about an entity’s accounting
for designated hedging relationships and the methods and
assumptions applied in determining fair values.
...Ex-Im Bank has also provided us with a
preliminary commitment of US $324
million to cover an additional 10 aircraft...
1. WHEN WE LAUNCHED our transborder service from
Vancouver to Honolulu and Maui.
2. WHEN WE CELEBRATED the arrival of our 50th Boeing
Next-Generation aircraft, giving us the most advanced
fleet of any major North American Airline.
3. WHEN WE IMPROVED our market share to 32%, an
impressive growth of 3% over last year.
4. WHEN WE INTRODUCED Web check-in to allow 390,855
guests to print their own boarding pass.
5. WHEN WE PROVIDED 24 channels of Bell ExpressVu
satellite programming and four channels of pay-per-view
movies to help make our flights even more fun.
6. WHEN WE REALIZED we had so many proud moments
that this list could keep going.
figure 35-A
Proud moments at
WestJet in 2005