WestJet Q3 Earnings Top $100 Million, A New Record

Open Jaw

WS posted record net earnings of $101.8 million for Q3 2015, up 19.2% from $85.4 million in the 3rd quarter of 2014.

The record results were achieved despite the significant weakening of the CAD and the softening of the Western Canadian economy as a result of the collapse in energy prices.

WS achieved an on-time performance rate of 86.0% in the 3rd quarter, a year-over-year improvement of 4.1 percentage points. The airline says that statistic tops North American airlines for the 2nd consecutive quarter.

Based on the trailing 12 months, the airline achieved a record return on invested capital of 16.1%, compared with the 16.0%. In another milestone, WS reported that its total assets surpassed $5 billion for the 1st time in its history.

"We are very pleased with another quarter of record financial results, as we improved our return on invested capital and operating margin while leading North American airlines in on-time performance for a 2nd straight quarter," said WestJet President & CEO Gregg Saretsky.

"We are very excited about the next chapter of WestJet's evolution, as we recently began flying wide-body aircraft in scheduled revenue service for the 1st time and announced non-stop service to London Gatwick from 6 Canadian cities beginning in the spring of 2016.”

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