WestJet Reports 36th Consecutive Profitable Quarter
WestJet announced financial results for the first quarter of 2014.
The Calgary-based airline reported a profit of 89.3 million Canadian dollars ($81.6 million), a year-over-year decrease of 2% from C$91.1 million in the first quarter of 2013.
The small drop in profit was caused in part by an increase in operating expenses in the first quarter of this year, as compared to last year.
Despite the decrease from last year’s numbers, the carrier still saw its second best ever first quarter earnings for Q1 of 2014. The period was also the 36th consecutive profitable quarter for the airline.
Total revenue increased 7.7% year-over-year to C$1.042 billion, up from C$967.2 million last year.
Passenger traffic for the first quarter was 5.416 billion revenue passenger miles, or RPMs, an increase of 6.4% from 5.088 billion in 2013. Capacity also increased year-over-year by 8%, to 6.515 billion available seat miles, or ASMs, from 6.032 billion last year.
The airline’s Q1 load factor was 83.1%, a year-over-year decrease of 1.2 percentage points from 84.3% over the same period in 2013.
(Photo: Ben King)