6-Nov-2013 1:50 PM
WestJet operating profit down 8% in 3Q2013 despite record pax
WestJet revenue up 7% - financial highlights for three months ended 30-Sep-2013:
- Revenue: CAD924.8 million (USD889.9 million), +6.7% year-on-year;
-
- Ancillary: CAD43.8 million (USD42.1 million), +28.1%;
- Costs: CAD825.8 million (USD794.6 million), +8.9%;
-
- Fuel: CAD266.7 million (USD256.6 million), +10.3%;
- Airport operations: CAD17.5 million (USD113.0 million), +9.9%;
- Operating profit: CAD99.0 million (USD95.3 million), -8.3%;
- Net profit: CAD65.1 million (USD62.6 million), -7.8%;
- Passenger numbers: 4.9 million, +7.1%;
- Load factor: 82.8%, -1.8 ppt;
- Yield: CAD 18.28 cents (USD17.6 cents), -1.8%;
- Revenue per ASM: CAD 15.14 cents (USD 14.6 cents), -3.9%;
- Cost per ASM: CAD 13.52 cents (USD 13.0 cents), -2.0%;
- Cost per ASM excl fuel and employee profit share: CAD 8.96 cents (USD 8.6 cents), -1.5%;
- Total assets: CAD3953 million (USD3803 million);
- Cash and cash equivalents: CAD1233 million (USD1186 million);
- Total liabilities: CAD2394 million (USD2303 million). [more - original PR]
*Based on the average conversion rate at USD1 = CAD1.0393
WestJet: "We had a strong third quarter in which we flew a record number of guests, exceeded our 12 per cent ROIC target for the fifth consecutive quarter, and reached our initial business transformation initiative milestone one year early by implementing and identifying various opportunities which we believe will result in approximately CAD100 million in future cost savings in 2014," Gregg Saretsky, President and CEO. Source: Company statement, 05-Nov-2013.