WS Full-Year Net Earnings Down Slightly, Load Factor A Record
Bruce Parkinson, Open Jaw
WestJet announced its fourth quarter and year-end results for 2017 this morning, with full-year net earnings of $283.6 million. That figure compares with net earnings of $295.5 million reported in the full-year 2016.
The airline achieved its 51st consecutive quarter of profitability, reporting fourth quarter net earnings of $48.5 million, compared to the $55.2 million reported in the Q4 2016.
For the full-year and in each quarter of 2017, WS flew a record number of guests. Based on the trailing twelve months, the airline recorded a return on invested capital of 10.0%, down 0.2 percentage points from the 10.2% reported in the previous quarter.
"In 2017, we continued our evolution toward becoming a global airline while flying a record number of guests and achieving our highest annual load factor in our history,” said President and CEO Gregg Saretsky.
“We announced an agreement to enter a joint venture with Delta Airlines, which will give Canadians more access to our low fares and growing network. We also proudly took delivery of Canada's first Boeing 737 MAX aircraft this fall, and it was in service with high reliability before the busy holiday season."
For the full year 2017, WS carried 24.13 million pax, up 10% from 21.95 million in 2016. Total revenue was up 9.8% to $4.5 billion. The full-year load factor was a record 83.6%, up 1.8 points from the year before.
Bruce Parkinson Editor-in-Chief
An observer and analyst of the Canadian and international travel industries for over 25 years, Bruce uses the pre-dawn hours to prepare a daily news and information package to keep industry members up to date.