WestJet Airlines reported its quarterly profit was up almost 80 per cent compared with a year ago and revenues were up almost 12 per cent. WestJet said its net income was $70.6 million or 52 cents per share in the quarter, up from $39.3 million or 28 cents per share a year earlier. Revenue rose to $866.5 million from $755.3 million. The average analyst estimate had been for a profit of 43 cents per share and revenue of $843 million.
The results came as capacity at the airline for the quarter grew two per cent while traffic increased 7.8 per cent. Revenue per available seat mile improved to 15.76 cents, up from 14.39 cents a year ago, while the cost per available seat mile was 13.8 cents, up from 13.16 cents a year ago.
