WS Back To Profit In Q4, But Full Year Net Earnings Down 67%
Bruce Parkinson, Open Jaw
WestJet has announced its fourth quarter and year end results for 2018, with full year net earnings of $91.5 million, down 67.2% from $279.1 million in the full year 2017.
In Q4 2018 the airline achieved net earnings of $29.2 million, down 39% from the $47.8 million reported in the fourth quarter of 2017.
The operating margin for 2018 was just 3.3%, down 6.3 points from 9.6% in the full year 2017.
"In 2018 we executed several significant milestones on our path to becoming a high-value global network airline," said Ed Sims, WestJet President and CEO.
"As we enter 2019, we continue to build momentum and are well-positioned to deliver on our strategic initiatives and expand margins. I would like to thank every WestJetter for their hard work through an especially busy holiday season culminating in our WestJet mainline business achieving the highest completion rate in North America in December, as measured by FlightStats."
Open Jaw will listen in on the today’s conference call between WS execs and financial analysts, so look for more coverage tomorrow AM.
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.