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WestJet SWOT: Net profits slump in 3Q2009, but seeing signs of market recovery

5-Nov-2009

WestJet reported a steep reduction in profitability levels in 3Q2009 (three months ended 30-Sep-2009), but still managed to continue its profitability trend for an eighteenth consecutive quarter, prompting CEO and President, Sean Durfy, to state, “we are extremely happy to have once again turned a difficult economic period into another profitable quarter”. [1997 words]

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Subheadings:

  • Seeing indications that RASM declines are levelling off 
  • STRENGTHS: On the profitability train
  • WEAKNESSES: Unit revenue and yield weakness continue 
  • OPPORTUNITIES: Progressing with key product enhancements
  • THREATS: Not out of the wood yet
  • OUTLOOK: Facing an onslaught of challenges but stronger than many in 2009 

Graphs and data:

  • WestJet financial highlights for three months ended 30-Sep-2009
  • WestJet revenue (CAD) and net profit margin (%): 4Q2006 to 3Q2009
  • WestJet operating margin (%): 2Q2004 to 3Q2009
  • Select North American airlines’ operating profit margins: 3Q2009
  • WestJet fuel costs as a portion of total expenses: 2Q2004 to 3Q2009
  • WestJet PLF (%) and PFL growth (year-on-year growth): Oct-2008 to Oct-2009
  • WestJet fleet plan
  • Select North American Airlines’ yield (per RPM, USD cents): 3Q2009
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