WestJet's earnings soar, shares surge
WestJet was the stand-out airline stock yesterday, as it unveiled a stellar fourth quarter net profit of CAD47.9 million, up 217% year-on-year. It's shares soared 11.8% yesterday.
The result took full-year net earnings to CAD136.7 million and represented its 23rd consecutive profitable quarter
WestJet reported a fourth quarter operating margin of 11.4%, compared with 6.3% in 4Q2009. CEO Gregg Saretsky stated the carrier is contemplating the introduction of fuel surcharges if oil prices "go north of USD100 [per barrel]".
Selected American airlines daily share price movements (% change): 09-Feb-2011