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WestJet continues profitability trend in 1Q09, but outlook more challenging

14-May-2009

WestJet continued its profitability trend in the three months ended 31-Mar-09 (1Q09), reporting a net profit of USD32.1 million (although this represented a 28.7% year-on-year reduction), for the 16th consecutive quarter of profitability. [2888 words]

Unlock the following content in this report:

Subheadings:

  • Industry-leading operating margin of over 10% in 1Q09
  • Ancillary revenues shine in 1Q09
  • Weakening of economic conditions effects unit revenue and yields; cost containment crucial
  • Healthy balance sheet with over CAD835 million in cash
  • Continues to grow to gain market share from rival
  • Continues effective seasonal deployment strategy
  • Flexible fleet strategy
  • Teams up with Canadian airlines and the NACC to propose own Passenger Bill of Rights
  • Delays frequent flyer programme
  • Currently in pilot contract negotiations
  • Outlook: Stronger the most in 2009

Graphs and data:

  • WestJet financial highlights for three months ended 31-Mar-09
  • WestJet operating margins (%): 2Q04 to 1Q09
  • Select North American carriers 4Q08 operating margins (%): 1Q09
  • WestJet revenue (CAD) and net profit margin (%): 4Q06 to 1Q09
  • Select North American carriers' yield (US cents per RPM): 1Q09
  • Select North American carriers' unit costs (US cents per ASM): 1Q09
  • WestJet unit cost per ASM breakdown (1Q07 to 1Q09) and year-on-year change
  • WestJet Destination Map: May-09
  • WestJet fleet plan
  • WestJet "Care-antee" Customer Service Guarantees
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