Tuesday, 7 May 2019

Canadian airline WestJet experienced a massive 33.4% increase in its first quarter net earnings

Photo WestJet
Today the Canadian airline WestJet announced its first quarter results for 2019, The carrier scored a massive boost with net earnings of $45.6 million, compared with net earnings of $34.2 million reported in the first quarter of 2018.

"We remain confident in our strategic direction and continue to see positive trends as a result of our prudent growth and the strategic initiatives we are undertaking." said Ed Sims, WestJet President and CEO. "I want to thank all of our guests for their continued loyalty and all WestJetters for their on-going commitment to providing an award-winning service through a busy first quarter."


Operating highlights (stated in Canadian dollars)

Q1 2019
Q1 2018
Change
Net earnings (millions)
$45.6
$34.2
33.4%
Diluted earnings per share
$0.40
$0.30
33.3%
Total revenue (millions)
$1,257.7
$1,191.7
5.5%
Operating margin
4.8%
5.1%
(0.3 pts)
ASMs (available seat miles) (billions)
8.456
8.029
5.3%
RPMs (revenue passenger miles) (billions)
7.168
6.810
5.3%
Load factor
84.8%
84.8%
0.0 pts
Segment guests
6,282,781
6,088,954
3.2%
Yield (revenue per revenue passenger mile)
(cents)
17.55
17.50
0.3%
RASM (revenue per available seat mile) 
(cents)
14.87
14.84
0.2%
CASM (cost per available seat mile) (cents)
14.16
14.08
0.6%
Fuel costs per litre (cents)
77
73
5.5%
CASM, excluding fuel and employee profit 
share (cents)*
10.59
10.50
0.9%

*Refer to reconciliations in the accompanying tables for further information regarding calculations.


Together with WestJet's regional airline, WestJet Encore, we offer scheduled service to more than 100 destinations in North America, Central America, the Caribbean and Europe and to more than 175 destinations in over 20 countries through our airline partnerships. WestJet Vacations offers affordable, flexible vacations to more than 60 destinations and the choice of more than 800 hotels, resorts, condos and villas.  Members of the WestJet Rewards program earn WestJet dollars on flights, vacation packages and more. Members use WestJet dollars towards the purchase of flights and vacations packages to any WestJet destination with no blackout periods and have access to Member Exclusive fares offering deals to WestJet destinations throughout our network and those of our partner airlines.

WestJet is proud to be recognized for three consecutive years as Best Airline in Canada (2017-19) and awarded among travellers' favourite Mid-Sized Airlines in North America (2019). From 2017-2018, WestJet was also awarded among travellers' favourite Mid-Sized and Low-Cost Airlines in North America. The airline was also recognized among the Economy Class winners in North America, 2018. All awards are based on authentic reviews from the travelling public on TripAdvisor, the world's largest travel site. We are one of very few airlines globally that does not commercially overbook.

Recent recognition includes:
2019/2018/2017 Best Airline in Canada (TripAdvisor Travellers' Choice awards for Airlines)
2019 Winner Among Mid-Sized Airlines in North America (TripAdvisor Travellers' Choice awards for Airlines)
2018/2017 Winner Among Mid-Sized and Low Cost Airlines – North America (TripAdvisor Travellers' Choice awards for Airlines)
2018 Winner – Economy, North America (TripAdvisor Travellers' Choice awards for Airlines)
2018 Number-One-Ranked Airline Credit Card in Canada (Rewards Canada)
2018 North America's Best Low-Cost Airline (Skytrax)
2018/2017/2016 Canada's Most Trusted Airline (Gustavson School of Business at the University of Victoria)

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