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

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