WestJet reports third quarter net earnings of $45.9 million, will fly from St. John’s to Ft. Lauderdale/Hollywood

Delivered on July 19, 2018

WestJet today announced its third quarter results for 2018, with net earnings of $45.9 million, or $0.40 per fully diluted share. This result compares with net earnings of $135.9 million, or $1.15 per fully diluted share reported in the third quarter of 2017. Year-to-date, WestJet recorded net earnings of $62.3 million, or $0.54 per fully diluted share.

“We are pleased to return to profitability in the third quarter,” Ed Sims, WestJet President and CEO. “We have achieved this result despite continued downward pressure from the dramatic increases in fuel price and competitive capacity, along with the lingering impact of the threat of industrial action. We now look forward to the delivery of our first Boeing 787-9 Dreamliner in late January, and starting direct services in Spring 2019 from Calgary to London (Gatwick), Paris, and Dublin. I would like to thank every WestJetter for their focus on delivering award-winning service to our guests.”

Operating highlights (stated in Canadian dollars)

Q3 2018

Q3 2017

Change

Net earnings (millions)

$45.9

$135.9

(66.3%)

Diluted earnings per share

$0.40

$1.15

(65.2%)

Total revenue (millions)

$1,260.9

$1,214.6

3.8%

Operating margin

6.2%

16.3%

(10.1 pts)

ASMs (available seat miles) (billions)

8.880

8.077

9.9%

RPMs (revenue passenger miles) (billions)

7.516

6.922

8.6%

Load factor

84.6%

85.7%

(1.1 pts)

Segment guests

6,940,569

6,530,873

6.3%

Yield (revenue per revenue passenger mile) (cents)

16.78

17.55

(4.4%)

RASM (revenue per available seat mile) (cents)

14.20

15.04

(5.6%)

CASM (cost per available seat mile) (cents)

13.32

12.58

5.9%

Fuel costs per litre (cents)

85

62

37.1%

CASM, excluding fuel and employee profit share (cents)*

9.36

9.29

0.8%

 *Refer to reconciliations in the accompanying tables for further information regarding calculations.

In other news, WestJet today announced the addition of nonstop service from St. John’s to Fort Lauderdale/Hollywood this winter. Service is available on a limited basis and starts March 11, 2019 through May 13, 2019.

This winter, along with Fort Lauderdale/Hollywood, WestJet will operate 29 weekly departures from St. John’s including non-stop to Orlando, Toronto and Halifax.

Details on WestJet’s service between St. John’s and Fort Lauderdale/Hollywood:

 Route

Frequency

Departing

Arriving

Effective

St. John’s –  Fort
Lauderdale

Once
weekly

2:30 p.m

6:44 p.m

March 11,
2019

Fort Lauderdale – St.
John’s

Once
weekly

7:30 a.m

1:38 p.m

March 11,
2019

Top Copyright Photo: WestJet Airlines Boeing 737-8 MAX 8 C-GZSG (msn 60516) YYZ (TMK Photography). Image: 943428.

WestJet aircraft slide show:

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