WestJet reports strong 2Q08 results amid challenging operating environment

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WestJet announced a 2Q08 net profit of USD29.5 million, representing a 161.4% year-on-year increase, and continuing the positive momentum gained in 2007 (2Q07 net profit was, however, impacted by the one-time non-recurring impairment loss related to costs previously capitalised for the airRes project). The underlying business was strong with a 2Q08 operating profit of USD54.9 million, representing an operating margin of 9.1%, and an increase of 54.0% year-on-year.

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