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WestJet operating profit up 63% in 3Q2012

8-Nov-2012 1:43 PM

WestJet revenue up 12% - financial highlights for three months ended 30-Sep-2012:

  • Revenue: CAD866.5 million (USD870.1 million), +11.8% year-on-year;
    • Ancillary: CAD34.2 million (USD34.3 million), +7.9%;
  • Operating costs: CAD758.5 million (USD761.7 million), +7.0%;
    • Fuel: CAD241.8 million (USD242.8 million), +4.8%;
    • Airport operations: CAD113.1 million (USD113.5 million), +6.6%;
  • Operating profit: CAD108.0 million (USD108.4 million), +63.3%;
  • Net profit: CAD70.6 million (USD70.9 million), +79.9%;
  • Passenger numbers: 4.6 million, +9.7%;
  • Load factor: 84.6%, +4.5 ppts;
  • Yield: CAD 18.6 cents (USD18.7 cents), +3.6%;
  • Revenue per ASM: CAD15.8 cents (USD 15.8 cents), +9.5%;
  • Cost per ASM: CAD 13.8 cents (USD13.9 cents), +4.9%;
  • Cost per ASM excl fuel and employee profit share: CAD 9.1 cents (USD 9.1 cents), +3.8%;
  • Total assets: CAD3769 million (USD3785 million), +8.5% when compared to period ended 31-Dec-2011;
  • Cash and cash equivalents: CAD1453 million (USD1459 million), +16.8% when compared to period ended 31-Dec-2011;
  • Total inabilities: CAD2320 million (USD2330 million), +10.3% when compared to period ended 31-Dec-2011;
  • 4Q2012 forecast:
    • Cost per ASM excl fuel and profit sharing: In line with 3Q2012 increase;
    • Capacity: +2.5% to +3.5%;
      • Domestic: +3.0% to +4.0%;
  • FY2012 forecast:
    • Cost per ASM excl fuel profit sharing: +3.0% to +3.5%;
    • Capacity: +4%;
      • Domestic: Flat to -1.0%;
  • FY2013 forecast:
    • Cost per ASM excl fuel and profit sharing: +2.0% to +3.0%;
    • Capacity: +7.0% to +8.0%. [more – original PR]

*Based on the average conversion rate at USD1 = CAD0.9959

WestJet: "Our forward bookings indicate that demand for air travel remains healthy as we head into the winter season. We expect operating margin expansion in the fourth quarter and continued profitable growth into 2013," Gregg Saretsky, president and CEO. Source: Company statement, 07-Nov-2012.