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Profit: WestJet reports second quarter net earnings

WJS
WJS

CALGARY, Canada – WestJet today announced its second quarter results for 2016, with net earnings of $36.7 million, or $0.30 per fully diluted share, as compared with the net earnings of $61.6 million,

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CALGARY, Canada – WestJet today announced its second quarter results for 2016, with net earnings of $36.7 million, or $0.30 per fully diluted share, as compared with the net earnings of $61.6 million, or $0.49 per fully diluted share reported in the second quarter of 2015. WestJet achieved its 45th consecutive quarter of profitability and flew a record 5.3 million guests. Based on the trailing twelve months, the airline recorded a return on invested capital of 11.4 per cent, down 1.4 percentage points from the 12.8 per cent reported in the previous quarter.

“Despite the continuing economic weakness in Alberta, I am very pleased with the positive momentum we are seeing in our business including strengthening topline revenue growth. Our fundamentals remain strong, as highlighted by our recent US$400 million investment grade unsecured notes offering, and we are confident that the strategic initiatives we are pursuing position us for continued profitable growth,” said WestJet President and CEO Gregg Saretsky. “My thanks go out to our almost 12,000 WestJetters for their continued energy and efforts in delivering our brand of friendly caring service to our guests.”

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About the author

Juergen T Steinmetz

Juergen Thomas Steinmetz has continuously worked in the travel and tourism industry since he was a teenager in Germany (1977).
He founded eTurboNews in 1999 as the first online newsletter for the global travel tourism industry.