"Remarkable Results:" WestJet Posts 2nd-Best Q3 In Its History
Bruce Parkinson, Open Jaw
WestJet announced the second-best third-quarter results in its history yesterday, with net earnings of $119.4 million, compared with net earnings of $70.1 million reported in the third quarter of 2018, a year-over-year increase of 70.4%.
"We are very pleased with these remarkable results, achieving our highest-ever third quarter load factor, second-highest ever third quarter net earnings and the third-highest quarterly net earnings in WestJet's history," said Ed Sims, WestJet President and CEO.
"These results would not have been possible without the continued energy and dedication of all 14,000 WestJetters in delivering our award-winning brand of friendly and caring service through the busy summer period. I also want to thank the almost seven million guests who travelled with us in the third quarter for their continued support."
Given WestJet's proposed arrangement with an affiliate of Onex Corporation (TSX: ONEX), WestJet will not be hosting an earnings call or webcast to discuss its third quarter results.
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.