WestJet’s full year profit rises 65%, announces plans for a regional feeder subsidiary

WestJet Airlines (Calgary) today announced its fourth quarter and year-end results for 2011. The airline reported fourth quarter net earnings of $35.6 million, or $0.26 per share and full-year net earnings of $148.7 million, or $1.06 per share; up significantly from the net earnings of $90.2 million, or $0.62 per share, reported for 2010. WestJet’s operating cash flow per share for the full-year 2011 was $3.60, an increase of 25 per cent compared to last year. All figures are in Canadian currency.

On January 16, 2012, WestJet announced that it was examining the possibility of launching a new low-cost short-haul, regional airline. Since that time, WestJetters have provided their input and voted overwhelmingly in favor of the strategy. According to the airline, “the leadership team and the board have made the decision to move ahead with plans to launch a new low-cost regional airline that will replicate our success in stimulating demand by bringing low fares to many new communities.”

Copyright Photo: Tony Storck.

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I have started the ultimate digital photo library of the fascinating world of airliners and airlines. The goal is to have the complete history of all airlines and the various aircraft operated. I have been photographing airplanes since 1965. Join us in this adventure.