WestJet reports profitable 2Q2019, yield up 4.5%

WestJet reported (Jul-2019) the following financial highlights:

• Three months ended 30-Jun-2019:
  • Revenue: CAD1213 million (USD906.7 million), +11.5% year-on-year;
    • Ancillary: CAD124.4 million (USD93.0 million), +13.8%;
  • Operating costs: CAD1171 million (USD875.3 million), +6.9%;
    • Fuel: CAD301.3 million (USD225.2 million), -0.3%;
    • Labour: CAD267.1 million (USD199.7 million), +7.9%;
  • Operating profit: CAD42.0 million (USD31.4 million), compared to a loss of CAD8.2 million in p-c-p;
  • Net profit: CAD44,279 million (USD33.1 million), compared to a loss of CAD15.8 million in p-c-p;
  • Yield: CAD 17.09 cents (USD 12.8 cents), +4.5%;
  • Revenue per ASM: CAD 14.89 cents (USD 11.1 cents), +8.5%;
  • Cost per ASM: CAD 14.38 cents (USD 10.7 cents), +3.9%;
  • Cost per ASM excl fuel and employee profit sharing: CAD 10.66 cents (USD 8.0 cents), +6.0%;
  • Average stage length: 847 miles, +0.2%;
• Six months ended 30-Jun-2019:
  • Revenue: CAD2471 million (USD1852 million), +8.4%;
    • Ancillary: CAD250.5 million (USD187.8 million), +14.5%;
  • Operating costs: CAD2369 million (USD1776 million), +6.4%;
    • Fuel: CAD598.2 million (USD448.5 million), +2.5%;
    • Labour: CAD536.7 million (USD402.4 million), +6.7%;
  • Operating profit: CAD101.9 million (USD76.4 million), +93.0%;
  • Net profit: CAD89.9 million (USD67.4 million), +389%;
  • Yield: CAD 17.32 cents (USD 13.0 cents), +2.2%;
  • Revenue per ASM: CAD 14.88 cents (USD 11.2. cents), +4.1%;
  • Cost per ASM: CAD 14.26 cents (USD 10.7 cents), +2.1%;
  • Cost per ASM excl fuel and employee profit sharing: CAD 10.62 cents (USD 8.0 cents), +3.3%;
  • Average stage length: 870 miles, stable;
  • Total assets: CAD7718 million (USD5786 million);
  • Cash and cash equivalents: CAD1502 million (USD1126 million);
  • Total liabilities: CAD5417 million (USD4062 million). [more - original PR]

*Based on the average conversion rate at CAD1 = USD0.749764 for 1H2019
*Based on the average conversion rate at CAD1 = USD0.747494 for 2Q2019