22:51:58 EDT Thu 25 Apr 2024
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or Name
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CA



WestJet Airlines Ltd
Symbol WJA
Shares Issued 117,053,533
Close 2017-08-01 C$ 25.60
Market Cap C$ 2,996,570,445
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Globe says Air Canada, WestJet feel strong upsurge

2017-08-02 08:46 ET - In the News

See In the News (C-AC) Air Canada

The Globe and Mail reports in its Wednesday edition that the airline industry is enjoying a stretch of packed airports and bumper profits. The Globe's Mark Rendell writes that Air Canada and WestJet are riding high in the boom, with the former boasting records in profit, share price and passenger numbers as it rolled out a slew of new international routes in the second quarter. WestJet also reported strong quarterly earnings, although the news was dampened by an announcement that the company was pushing back the planned launch date for its ultralow-cost carrier. WestJet still managed to rack up double-digit gains in passenger revenue. Air Canada earned a record $300-million or $1.08 a diluted share, compared with $186-million or 66 cents in the 2016 second quarter. WestJet also saw positive earnings growth of 11.1 per cent year over year, bringing earnings up to $48.4-million or 41 cents a diluted share. As with Air Canada, high passenger numbers drove total revenue to $1.055-billion, up from $949.3-million in the same period last year. WestJet benefited from rebounding demand in the Alberta market, where leisure passenger traffic fell in the wake of the 2014 oil price slump.

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