Foreign ownership has declined somewhat in recent months with the run-up in the price of fuel, as the sector's been a little bit out of favor, but it's still worth our while to do it (reclassify the shares) in preparation for when that reverses.

The changes to the executive structure reinforces the commitment that WestJet has to its guests, ... Russ' proven leadership and business judgment as an executive will help further strengthen our WestJet Executive team.

Both Arthur Scace and Hugh Bolton's unique and varied experiences are welcome additions to WestJet's Board of Directors. We are fortunate that Mr. Scace and Mr. Bolton have accepted these positions, and we look forward to the contributions they will make.

We sell seats based on USD$50 oil and then fly people at USD$65 oil. Obviously, it's not going to be good for earnings.

Both Air Transat and Air Canada went to a variable voting structure and we were the oddball.

We'll be profitable in the third quarter. There's no question about that.

And some of our American shareholders asked us if we would consider it and we certainly saw no reason why not to do it.

It isn't so much the absolute price of oil, as it is the increasing price, ... If we sell seats based on $50 oil and then fly people at $65 oil, obviously it's not going to be good for earnings.

These numbers indicate the capacity we are adding into the system continues to be absorbed by the market.