WestJet Announces Record Year-End Results
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Westjet
WestJet has announced its fourth quarter and full year financial results for 2006.
The Company achieved record net earnings of $26.7-million for the fourth quarter of 2006 compared to $1.0-million in 2005, an impressive 26-fold increase.
For the full year 2006, net earnings were a record $114.7-million compared to $24.0-million in 2005, a 377.8% increase.
Sean Durfy, WestJet's President said ... "Our 10th year of operations was highlighted by four record quarters, optimal load factors, industry-leading on-time performance and 12-consecutive months of profitability.
"We generated an operating margin of 11.2%, one of the best in the North American airline industry. Our excellent performance was achieved through our strong growth, ability to contain costs and our continued commitment to our guests and our people."
The Company's 2006 performance delivered diluted earnings per share of 21-cents for the quarter, up from 1-cent in 2005.
Diluted earnings per share for the 12-months ended December 31, 2006 rose to 88-cents from 19-cents in the same period in 2005, an increase of 363.2%.
Fourth quarter revenue of $459.6-million, compared to $366.8-million in the fourth quarter 2005 was a 25.3% improvement.
Year-end revenue for 2006 was $1,773.7-million, increasing from $1,392.8-million in the same period 2005, up 27.4%.
WestJet's 2006 fourth quarter RASM was a strong 13.9-cents, compared to 13.6-cents in the same period in 2005; an improvement of 2.2%. Year-end RASM was 14.2-cents, compared to 13.0-cents in 2005, an increase of 9.2%.
(WestJet)
Date posted: 15-Feb-07
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WestJet Announces Record Year-End Results 
