CALGARY, ALBERTA--(CCNMatthews - Oct. 26, 2006) - WestJet (TSX:WJA) today announced its best quarter in history, reporting record net earnings of $52.8 million, an increase of 74.5 per cent compared to $30.3 million in the third quarter 2005. The first nine months of 2006 resulted in net earnings of $88.0 million, an increase of 283.3 per cent over $23.0 million in 2005.
Earnings per share was also record-breaking at 41 cents, as compared to 24 cents in the three months ended September 30, 2005; while record year-to-date earnings per share increased to 68 cents from 18 cents in the same period 2005.
This is the fifth-consecutive quarter we concurrently increased capacity, yield and load factor from the respective prior-year quarter. Increases in these three areas, once again illustrate our ability to grow our network while attracting guests.
Revenues grew this quarter to $502.6 million, an increase of 23.8 per cent, compared to $406.1 million in the same period in 2005. Year-to-date revenue grew to $1.3 billion, an increase of 28.1 per cent, compared to $1.0 billion in 2005....
Tango-Bravo From United States of America, joined Jun 2001, 3777 posts, RR: 30 Reply 4, posted (7 years 1 month 2 weeks 5 days 7 hours ago) and read 2975 times:
Since WestJet seems to be regarded by many as "Southwest Airlines North of the Border," will we also be subjected to endless pontificating from the legacy lover fringe explaining how "WestJet actually lost money" even though they reported a solid profit?
9252fly From Canada, joined Sep 2005, 1367 posts, RR: 0 Reply 5, posted (7 years 1 month 2 weeks 5 days 3 hours ago) and read 2853 times:
I don't think anyone will try to lessen this achievment by WS. I'm a bit of an AC fan,yet I know when to give due credit. Congratulations WS,your employees will be pleased with their profit sharing cheques.
Robsawatsky From Canada, joined Dec 2003, 597 posts, RR: 0 Reply 6, posted (7 years 1 month 2 weeks 5 days 3 hours ago) and read 2842 times:
Quoting Tango-Bravo (Reply 4): will we also be subjected to endless pontificating from the legacy lover fringe explaining how "WestJet actually lost money" even though they reported a solid profit?
Actually you can attempt that with any company's financial reports by looking at their extraordinary items, which can either add or subtract to the operational profit. It is the operational profit that is the import indicator as to the actual sustainability of the corporation, in this case it seems the profit is all driven by more flights, more passengers and fuller flights.
JBLUA320 From United States of America, joined May 2002, 3170 posts, RR: 20 Reply 8, posted (7 years 1 month 2 weeks 4 days 19 hours ago) and read 2684 times:
This is great news for WestJet and I look foward to flying them soon! As an interesting side note, has anyone else read up about the new WestJet lounges? Seems like an interesting concept... looks like WestJet is looking to up its business traffic! If it works, it is going to make their yields even stronger.
YOW From , joined Dec 1969, posts, RR: Reply 9, posted (7 years 1 month 2 weeks 4 days 4 hours ago) and read 2560 times:
Quoting JBLUA320 (Reply 8): an interesting side note, has anyone else read up about the new WestJet lounges?
The lounges you're referring to are actually common-use lounges operated by Penauille-Servisair (ex-Globe Ground). As an aside Penauille is an awful name, should have stuck with Globe. For a small fee of around $15 any airline passenger can use the lounge before boarding a flight.
Tango-Bravo From United States of America, joined Jun 2001, 3777 posts, RR: 30 Reply 10, posted (7 years 1 month 2 weeks 4 days 4 hours ago) and read 2539 times:
Quoting YOW (Reply 9): For a small fee of around $15 any airline passenger can use the lounge before boarding a flight.
Very interesting (and hopefully successful) concept. What type of perks, complimentary and at additional charge, do these common-use lounges offer? Does anyone know whether any such lounges have been/will be opened at any airports in the U.S.?
BO__einG From Canada, joined Apr 2000, 2765 posts, RR: 19 Reply 11, posted (7 years 1 month 2 weeks 2 days 14 hours ago) and read 2398 times:
Great news! Looks like they might spend some of that extra money towards their Christmas and Birthday Parties at the CTCC.
Boy WestJetters sure know how to party when good news happens.
Going to look forward to it once again.
One of the best working environments of any company in the country. Coworkers becoming best buddies who then tighten all those bonds even more to be like a part of a huge family with 65 737's to fly around in. Not to mention those extra sums of dough in their cheques.
Keep up the good work!
Expanding my global domination one spotter at a time..
RicardoFG From Spain, joined Feb 2005, 677 posts, RR: 0 Reply 13, posted (7 years 1 month 2 weeks 1 day 17 hours ago) and read 2245 times:
Quoting YOW" class=quote target=_blank>YOW (Reply 9): The lounges you're referring to are actually common-use lounges operated by Penauille-Servisair (ex-Globe Ground). As an aside Penauille is an awful name, should have stuck with Globe. For a small fee of around $15 any airline passenger can use the lounge before boarding a flight.
I know they're open at YOW, YWG & YYC so far
Are they planning a Penauille Servisair lounge in YYZ?? Seems to be a lack of airline lounges there.
PanAm_DC10 From Australia, joined Aug 2000, 4053 posts, RR: 91 Reply 14, posted (7 years 1 month 2 weeks 23 hours ago) and read 2174 times:
AIRLINERS.NET CREW COMMUNITY MANAGER
Westjet have now announced that they have finalised further leases on more 737NGs too;
OCT 30, 2006 - 08:30 ET
CALGARY, ALBERTA--(CCNMatthews - Oct. 30, 2006) - WestJet (TSX:WJA) today announced that it has finalized a term sheet with Singapore Aircraft Leasing Enterprise (SALE) for five Boeing Next-Generation 737 aircraft to be delivered in 2009. Details of the agreement include four 700-series aircraft scheduled for delivery in January, May, June and October 2009 respectively and one 800-series aircraft to be delivered in May 2009.
The agreement also provides WestJet with the ability to secure an additional three 700-series and one 800-series aircraft in 2009. The 700-series may be converted to 800-series at WestJet's option. Finalization of the transaction is subject to a number of conditions.
"One of our continued strategic drivers is ASM growth through fleet expansion," said Sean Durfy, President. "Having recently announced our most profitable quarter in history with increases in capacity, load factor and yield, we are confident the demand for WestJet's service in the domestic, transborder and international Caribbean markets will support the addition of these aircraft."
WestJet currently has a registered fleet of 62 aircraft, with committed deliveries scheduled for the remainder of 2006 through to 2009. By the end of 2009, WestJet will have a registered fleet of 81 aircraft.
FighterPilot From Canada, joined Jun 2005, 1336 posts, RR: 24 Reply 15, posted (7 years 1 month 2 weeks 22 hours ago) and read 2155 times:
Although I'm more of an AC fan as well, it is nice to see other Canadian airlines being successful. I like WestJet's friendly service and have no complaints about the 737-700's Keep Up The Good Work WestJet!