WestJet - Rare profit in tough 3Q08, but showing signs of challenging operating environment

Premium Analysis

WestJet continued its profitability trend in the three months ended 30-Sep-08 (3Q08), reporting a net profit of USD45.4 million (although this represented a 28.1% year-on-year reduction) and an operating profit of USD80.9 million (representing an operating margin of 13.7%, and a reduction of 24.8% year-on-year). However, WestJet’s 3Q08 results, while “among the best worldwide”, reflected the challenges in the current operating environment, characterised by fluctuating oil prices and tumultuous conditions in the financial and economic environment.

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