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WestJet reports best quarterly profit in 1Q2013

8-May-2013 1:23 PM

WestJet revenue up 9% - financial highlights for three months ended 31-Mar-2013:

  • Revenue: CAD967.2 million (USD959.7 million), +8.6% year-on-year;
  • Operating costs: CAD834.9 million (USD828.3 million), +6.35;
    • Fuel: CAD271.0 million (USD268.9 million), +3.4%;
    • Airport operations: CAD115.1 million (USD114.2 million), +9.4%;
  • Operating profit: CAD132.4 million (USD131.3 million), +25.3%;
  • Net profit: CAD91.1 million (USD90.4 million), +33.3%;
  • Passenger numbers: 4.5 million, +6.2%;
  • Passenger load factor: 84.3%, +1.3 ppt;
  • Yield: CAD 19.01 cents (USD18.86 cents), +0.7%;
  • Revenue per ASM: CAD 16.03 cents (USD 15.90 cents), +2.4%;
  • Cost per ASM: CAD 13.84 cents (USD 13.73 cents), +0.3%;
  • Cost per ASM excl fuel and employee profit share: CAD 8.94 cents (USD 8.87 cents), -0.1%;
  • Total assets: CAD3790 million (USD3760 million), +1.2% when compared to period ended 31-Dec-2012;
  • Cash and cash equivalents: CAD1365 million (USD1354 million), -3.1% when compared to period ended 31-Dec-2012;
  • Total liabilities: CAD2240 million (USD2223 million), -1.5% when compared to period ended 31-Dec-2012. [more - original PR]

WestJet: “For the second quarter of 2013, WestJet expects strong traffic growth and earnings among its best ever for a second quarter, notwithstanding an expected moderate decline in its second quarter RASM which will be impacted by the timing of Easter and Passover, the elimination of Thomas Cook capacity purchase commitments, the loss of the one-time benefit from Air Canada's labour uncertainty in the second quarter of 2012, and accelerating capacity growth fueled by higher utilization and the launch of WestJet Encore. For the second quarter of 2013, WestJet expects CASM, excluding fuel and employee profit share, to be flat to up one per cent year-over-year. The airline expects fuel costs to range between CAD0.84 and CAD0.86 cents per litre for the second quarter of 2013, representing a year-over-year decrease of six to nine per cent.” Source: Company statement, 07-May-2013.