WestJet Airlines (Calgary) today announced its first quarter results for 2012. The airline reported record first quarter net earnings of C$68.3 million, or $0.49 per diluted share; up from the net earnings of C$48.2 million, or $0.34 per diluted share, reported in the first quarter of 2011. This represents WestJet’s 28th consecutive quarter of profitability. WestJet’s operating cash flow per share for the first quarter of 2012 was $1.87, an increase of 31 per cent year over year. Based on the trailing twelve months, the airline achieved a return on invested capital of 10.8 per cent, up from the 10.1 per cent reported last quarter.
WestJet today also announced it has selected Montreal-based Bombardier Inc. to supply aircraft for its new regional airline, expected to launch in the second half of 2013. The airline will fly the Bombardier DHC-8-402 (Q400) NextGen turboprop (below) to new cities, existing destinations not currently connected by WestJet, and will allow for schedule improvements on certain routes where a smaller aircraft can efficiently provide greater frequency.
WestJet has signed a letter of intent to purchase 20 Q400s with the option to purchase a further 25 aircraft. The airline expects to announce its initial regional schedule using the Q400s later in 2012.
Top Copyright Photo: Michael B. Ing.
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Bottom Image: Bombardier.