Westjet 2014 Annual Report Download - page 7

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WestJet Annual Report 2014 │ 5
Caution regarding forward-looking statements
Certain statements set forth in the above president’s message to shareholders, including without limitation, information
respecting WestJet’s return on invested capital target of 12 per cent; our plans to continue identifying and implementing
efficiencies that will drive cost savings across our business in 2015 and beyond; our expectation that we will dispose of five
more Boeing 737NG-700 aircraft in the first half of 2015; our plans to introduce wide-body service with initial flights planned
between Alberta and Hawaii in late 2015 and beginning in 2016 our plans to expand our network into additional overseas
markets; the continued growth of WestJet Encore, including into the United States; our expectations that the first checked
bag fee will generate approximately $100 million in incremental revenue; and our expectations that half of our fleet will be
equipped with the new inflight entertainment system by year-end 2015, and the entire fleet of Boeing aircraft within two years
contain certain forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and
uncertainties, some of which are beyond WestJet’s control. These forward-looking statements are based on our existing
strategies, our long-term strategic plan, our fleet plan and our current forecast, but may vary due to factors including, but not
limited to changes in fuel prices, changes in guest demand, general economic conditions, competitive environment, ability to
effectively implement and maintain critical systems, ability to successfully negotiate and effectively implement new partnering
relationships, regulatory approvals and requirements, and other factors described in WestJet’s public reports and filings, which
are available on WestJet’s profile at sedar.com. Readers are cautioned that undue reliance should not be placed on forward-
looking statements as actual results may vary materially from the forward-looking statements. WestJet does not undertake to
update, correct or revise any forward-looking statements as a result of any new information, future events or otherwise,
except as may be required by applicable law.
Non-GAAP measures
This president’s message to shareholders contains disclosure respecting non-GAAP measures including, without limitation,
adjusted net earnings; adjusted diluted earnings per share; and 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, 2014.