Money WestJet reports Q1 profit falls from year ago

16:30  08 may  2018
16:30  08 may  2018 Source:

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WestJet Airlines Ltd. say its first -quarter profit fell compared with a year ago after what it called a challenging quarter. If you encounter a comment that is abusive, click the "X" in the upper right corner of the comment box to report spam or abuse.

Canada's WestJet Airlines Ltd reported a smaller quarterly profit , hurt by a weak economy inAlberta and a foreign exchange loss. 31, from C.7 million, or 70 Canadian cents per share, a year earlier. Revenue fell 3.6 percent to C8.7 million.

a large passenger jet sitting on top of a runway© Provided by

CALGARY - WestJet Airlines Ltd. say its first-quarter profit fell compared with a year ago after what it called a challenging quarter in which it booked higher fuel costs.

The Calgary-based airline says it earned $37.2 million, or 32 cents per diluted share, down from a profit of $46.7 million, or 40 cents per diluted share, a year ago.

That fell short of analysts' expectations for earnings of 36 cents per share, according to data from Thomson Reuters Eikon.

Revenue for the three-month period totalled $1.19 billion, up from $1.11 billion in the same quarter last year.

The increase in revenue came as capacity increased 4.3 per cent and revenue passenger miles — a measure of traffic — increased 6.5 per cent.

WestJet's load factor, a measure of how full its aircraft were, increased to 84.8 per cent compared with 83 per cent a year ago.

However, fuel costs per litre rose 14.1 per cent compared with the same quarter last year.

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Doug Ford promises to cut gas prices by 10 cents a litre .
A PC government would cut gas taxes a total of 10 cents a litre, Doug Ford said Wednesday. The tax break of a dime includes the 4.3 cents per litre carbon tax the Wynne Liberal administration implemented last year with the rest coming from a reduction in the provincial excise tax. “These are real savings,” Ford said at an Oakville gas station where a litre of regular unleaded gas is priced at just under $1.36. © Tara Walton Ontario PC leader Doug Ford speaks during a campaign stop in Niagara Falls, Ont. on May 14, 2018.

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