Westjet 2013 Annual Report Download - page 6

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WestJet Annual Report 2013 6
In February 2014, we announced that we had signed a
contract with Panasonic Avionics Corporation to provide
us with a new inflight entertainment system, including
wireless satellite Internet connectivity, live streaming
television, on-demand movies, magazines and more.
Our guests will be able to use their own personal
electronic devices to access live and stored content.
I’m excited about this initiative to enhance our value
proposition for business travellers and broaden the
entertainment options available to all our guests.
We were extremely honoured to receive a number of
awards in 2013 recognizing the tremendous impact
WestJetters have on our continued success. In March,
wewere recognized as Canada’s Most Attractive
Employer by the national recruitment firm Randstad
Canada, and in May, we received recognition as Canada’s
Most Preferred Airline by Leger Marketing. In June, we
received a Stevie Award in the Transportation Company
of the Year category for the seventh annual Stevie
Awards for Sales and Customer Service. In addition,
WestJet Vacations was recognized by U.S. Travel and
Brand USA at the Premier Chairman’s Circle Honors.
InSeptember, we were delighted that the WestJet RBC®
World Elite MasterCard± received Canada’s best travel
rewards card rating for 2013 by MoneySense magazine,
and in November, it was ranked number one among
travel reward cards in Canada’s Top Travel Rewards
Credit Card category by Rewards Canada.
In January 2014, we were proud to be named the 2014
Value Airline of the Year as part of Air Transport World
magazine’s 40th Annual Airline Industry Achievement
Awards. This award is a testament to the nearly 10,000
WestJetters who are committed to providing a safe and
caring experience every day.
Our successes in 2013 allowed us to continue returning
value to our shareholders. In February 2013, we
announced our third quarterly dividend increase from
$0.08 to $0.10, and in February 2014, we increased this
dividend a further 20 per cent to $0.12. As of the end of
2013, we have repurchased and cancelled 71 per cent
of the maximum authorized number of shares under
our third normal course issuer bid, which we initiated
in February 2013. Since our quarterly dividend began
in 2010, and including our three normal course issuer
bids, we have returned more than $400 million to our
shareholders as of the end of 2013.
I’m proud of what we’ve accomplished so far, and excited
about WestJet’s future as we grow to meet the changing
needs of our guests today and in the future, enriching
the lives of everyone in WestJet’s world along the way.
We had a successful year, and I anticipate many more
successes in 2014 and the years ahead, while we stay
true to the core values that make us a great airline.
Gregg Saretsky
President and Chief Executive Officer
March 19, 2014
Non-GAAP measures
This president’s message to shareholders contains disclosure respecting
non-GAAP measures including, without limitation, return on invested capital.
Non-GAAP measures are included to enhance the overall understanding of
WestJet’s financial performance and to provide an alternative method for
assessing WestJet’s operating results in a manner that is focused on the
performance of WestJet’s ongoing operations, and to provide a more consistent
basis for comparison between reporting periods. These measures are not
calculated in accordance with, or an alternative to, GAAP and do not have
standardized meanings. Therefore, they may not be comparable to similar
measures provided by other entities. Readers are urged to review the section
entitled “Reconciliation of non-GAAP and additional GAAP measures” in
WestJet’s management’s discussion and analysis of financial results for the
year ended December 31, 2013.
®Registered trademarks of Royal Bank of Canada. RBC and Royal Bank
are registered trademarks of the Royal Bank of Canada. ±MasterCard and
World MasterCard are registered trademarks of MasterCard International
Incorporated.
President’s message