WS Net Earnings Up 32%, Posts Record Load Factor For Q2
Bruce Parkinson, Open Jaw
WestJet has announced its second quarter results for 2017, with net earnings of $48.4 million, compared with the net earnings of $36.7 million, up 32% from the same quarter in 2016.
The airline achieved its 49th consecutive quarter of profitability and flew a record 5.9 million guests. It also posted a record second quarter load factor of 82.8%.
Based on the trailing twelve months, the airline achieved a return on invested capital of 9.8%, compared with 10.0% per cent reported in the previous quarter.
"I am very pleased with the positive momentum we are seeing in our business as we reported second quarter earnings growth, margin expansion, double digit revenue growth, and for the second consecutive quarter positive year over year RASM growth,” said WS President and CEO Gregg Saretsky.
“Clearly our business fundamentals are strong and we are confident that the strategic initiatives we are pursuing position us for continued profitable growth."
Open Jaw will provide more reporting on WestJet tomorrow, following today’s earnings call with financial analysts.