WestJet Reports Second Quarter Net Earnings Of $48 Million

Photo: WestJet

WestJet announced its second quarter results for 2017, with net earnings of $48.4 million, or $0.41 per fully diluted share, as compared with the net earnings of $36.7 million, or $0.30 per fully diluted share reported in the second quarter of 2016, up 32.0 per cent and 36.7 per cent, respectively.

WestJet achieved its 49th consecutive quarter of profitability and flew a record 5.9 million guests. Based on the trailing twelve months, the airline achieved a return on invested capital of 9.8 per cent, compared with the 10.0 per cent reported in the previous quarter.

“I am very pleased with the positive momentum we are seeing in our business as we reported second quarter earnings growth, margin expansion, double digit revenue growth, and for the second consecutive quarter positive year over year RASM growth. Clearly our business fundamentals are strong and we are confident that the strategic initiatives we are pursuing position us for continued profitable growth,” said WestJet President and CEO Gregg Saretsky.

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“These results are a great start to our November profit share, thanks to the commitment and passion of our more than 12,000 WestJetters who continue to deliver our brand of friendly caring service.”

 

Source: WestJet Press Release

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