WestJet revenue up 15.2%, reports 21st consecutive quarterly profit in 2Q2010

WestJet revenue up 15.2% - financial highlights:

• Three months ended 30-Jun-2010:
  • Revenue: USD602.0 million, +15.2% year-on-year;
  • Operating costs: USD562.5 million, +15.7%;
    • Fuel: USD161.74 million, +27.8%;
  • Operating profit: USD39.5 million, +9.1%;
  • Net profit: USD20.7 million, +129.7%;
  • Passenger traffic (RPMs): +16.4%;
  • Load factor: 80.0%, +3.9 ppts;
  • Yield: USD15.74 cents, -1.1%;
  • Revenue per ASM: USD 12.59 cents, +4.0%;
  • Cost per ASM: USD 11.76 cents, +4.4%;
  • Average stage length: 962 miles, +5.9%;
• Six months ended 30-Jun-2010:
  • Revenue: USD1,212 million, +10.9%;
  • Operating costs: USD1,134 million, +13.9%;
    • Fuel: USD319.2 million, +19.7%;
  • Operating profit: USD77.2 million, -19.4%;
  • Net profit: USD34.3 million, -25.2%;
  • Passenger traffic: +12.9%;
  • Passenger load factor: 80.8%, +2.5 ppts;
  • Yield: USD 15.81 cents, -1.8%;
  • Revenue per ASM: USD 12.78 cents, +1.4%;
  • Cost per ASM: USD 11.96 cents, +4.1%;
  • Average stage length: 963 miles, +4.3%. [more]

WestJet: "WestJet believes the Canadian economy needs to rebound further before it can support more new domestic capacity growth. Domestic capacity was therefore reduced during the second quarter and new capacity directed into the airline's southern markets. Most of the new capacity will continue to be deployed outside of Canada in the third and fourth quarters as well. The airline's capacity for the third quarter is expected to increase between 11 and 12%. Its full-year capacity is expected to increase 9% to 10%," Company statement. Source: WestJet, 05-Aug-2010.