WestJet revenue jumps 14%, operating profit up 17% in 3Q2010

WestJet revenue jump 14% - financial highlights for the three months ended 30-Sep-2010:

• Revenue: USD684.6 million, +14.0% year-on-year;
• Operating costs: USD589.7 million, +13.5%;
  • Fuel: USD169.5 million, +13.4%;
  • Airport operations: USD93.4 million, +11.9%;
• Operating profit: USD89.5 million, +17.2%;
• Net profit: USD53.6 million, +71.8%;
• Passenger traffic (RPMs): +11.7%;
• Load factor: 79.6%, -0.1 ppt;
• Yield: USD 16.96 cents, +2.1%;
• Revenue per ASM: USD 13.50 cents, +2.0%;
• Cost per ASM: USD 11.72 cents, +1.5%;
• Cost per ASM excl fuel and employee profit share: USD 8.19 cents, +1.1%;
• Utilisation: 11.6 hour, stable;
• Average sctor length: 962 miles, +4.5%;
• Total assets: USD3,578 million, +3.2% when compared to period ended 31-Dec-2009;
• Cash and cash equivalents: USD1,209 million, +21.2% when compared with the period ended 31-Dec-2009;
• Total liabilities: USD2,093 million, +0.2% when compared with the period ended 31-Dec-2009. [more]

*Based on the conversion rate at USD1 = CAD1.00791

WestJet: "The airline plans fourth quarter capacity to increase 13 to 14 per cent year over year which it expects to absorb while improving year-over-year RASM. WestJet is encouraged by the gradual recovery in pricing and the pace of current bookings," Company statement. Source: WestJet, 03-Nov-2010.