WestJet's 17th consecutive quarter of profitability, but at significantly reduced levels
WestJet reported a steep reduction in profitability levels in 2Q2009 (three months ended 30-Jun-09), but still managed to continue its profitability trend for a seventeenth consecutive quarter with a net profit of USD8.5 million. Although this represented a 65.7% year-on-year reduction and the carrier’s lowest net profit level since 2Q2007, the results were stronger than expected in the current “daunting” operating environment, prompting a 3.4% increase in the carrier’s share price on the day of the release of the results.
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