10-Nov-2011 1:57 PM

WestJet reports 26th consecutive quarterly profits in 3Q2011

WestJet revenue up 13% - financial highlights for three months ended 30-Sep-2011:

  • Total revenue: USD766.3 million, +13.3% year-on-year;
    • Ancillary: USD31.3 million, +39.6%;
  • Costs: USD701.0 million, +16.8%;
    • Fuel: USD228.1 million, +35.1%;
    • Labour: USD139.2 million, +7.3%;
  • Operating profit: USD65.4 million, -14.3%;
  • Net profit: USD38.8 million, -10.4%;
  • Passenger numbers: 4.2 million, +7.0%;
  • Load factor: 80.1%, +0.5 ppt;
  • Yield: USD 17.76 cents, +5.3%;
  • Revenue per ASM: USD 14.22 cents, +5.8%;
  • Cost per ASM: USD 13.01 cents, +9.1%;
  • Cost per ASM excl fuel and employee profit share: USD 8.67 cents, +3.2%;
  • Average stage length: 958 miles, -0.4%;
  • Total assets: USD3454 million, +3.3% when compared to period ended 31-Dec-2010;
  • Cash and cash equivalents: USD1305 million, +11.1% when compared to period ended 31-Dec-2010;
  • Total liabilities: USD2122 million, +3.5% when compared to period ended 31-Dec-2010;
  • 4Q2011 forecast:
    • Capacity (ASMs): +5% to +6%;
      • Domestic: +2% to +3%;
  • FY2011 forecast:

*Based on the conversion rate at USD1 = CAD1.01169

WestJet: “For the fourth quarter of 2011 we expect a comparable level of RASM growth as that achieved in the third quarter of 2011. We remain optimistic that demand for air travel will be healthy despite the volatility being felt in the broader economy. As a result of our relatively short booking curve, we have limited visibility with regard to long-term demand but forward bookings for the remainder of 2011 appear healthy.” Company statement. Source: WestJet, 09-Nov-2011.

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