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WestJet reports 20th consecutive quarter of profitability; but larger-than-expected slump in earning

6-May-2010

WestJet reported a larger-than-expected and steep reduction in quarterly net profits in the three months ended 31-Mar-2010 (1Q2010), but still managed to continue its profitability trend for a twentieth consecutive quarter. [1684 words]

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Subheadings:

  • Remaining on the profitability train
  • Improving yield trends “starting to emerge”; small reductions in 1Q2010 
  • Unit costs up by single-digits
  • Healthy balance sheet of USD1.0 billion
  • Load factors within “optimal” range; 2Q 2010 capacity to rise 10% y-o-y
  • Considering moving away from single-fleet type
  • Further codeshares on the way in Asia, Latin America, Africa and the Middle East
  • Outlook improving, with stronger second quarter expected

Graphs and data:

  • WestJet financial highlights for three months ended 31-Mar-2010
  • WestJet operating margin (%): 2Q2004 to 1Q2010
  • WestJet revenue (CAD) and net profit margin (%): 4Q2006 to 1Q2010
  • WestJet operating expense breakdown: 1Q2009 vs 1Q2010
  • Fuel cost as a proportion of total costs: 4Q2004 to 1Q2010
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