WestJet expects positive results to continue into 1Q2011

WestJet revenue jump 21.5% - financial highlights:

• Three months ended 31-Dec-2010:
  • Revenue: USD696.3 million, +21.5% year-on-year;
  • Operating costs: USD617.1 million, +15.0%;
    • Fuel: USD180.2 million, +20.4%;
  • Passenger numbers: 3.8 million, +8.2%;
  • Passenger load factor: 78.5%, +0.1 ppt;
  • Yield: USD 17.67 cents, +6.7%;
  • Revenue per ASM: USD 13.87 cents, +6.8%;
  • Cost per ASM: USD 12.29 cents, +1.1%;
  • Cost per ASM excl fuel and employee profit share: USD 8.55 cents, -1.8%;
  • Average sector length: 982 miles, +6.4%;
  • Utilisation: 11.7 hours, +2.6%;
• 12 months ended 31-Dec-2010:
  • Revenue: USD 2622 million, +14.4%;
  • Operating costs: USD2373 million, +14.1%;
    • Fuel: USD678.0 million, +18.2%;
  • Passenger numbers: 15.2 million, +8.1%;
  • Passenger load factor: 79.9%, +1.2 ppt;
  • Yield: USD 16.79 cents, +1.3%;
  • Revenue per ASM: USD 13.43 cents, +3.0%;
  • Cost per ASM: USD 12.15 cents, +2.7%;
  • Cost per ASM excl fuel and employee profit share: USD 8.56 cents, +0.8%;
  • Average sector length: 968 miles, +4.9%;
  • Utilisation: 11.6 hours, -0.9%. [more]

*Based on the conversion rate at CAD1 = USD1.00497

WestJet: "As we move forward into 2011, we are encouraged by the strengthening yield trend that emerged in the second half of 2010 and the growing optimism surrounding an economic recovery. We expect that first quarter year-over-year RASM improvements will be roughly in line with the positive change seen in the fourth quarter of 2010. We realise fuel costs may be a headwind in 2011, but we firmly believe that our fundamental low-cost structure and strong balance sheet positions us well to weather fuel price uncertainty," Company statement. Source: WestJet, 09-Feb-2011.