Lower fuel costs help WestJet net a 19% rise in quarterly profit
WestJet Airlines Ltd reported a 19 per cent rise in quarterly profit, helped by lower fuel costs and addition of new routes.
Global crude prices have nearly halved from June last year, lowering costs for airlines and logistics and shipping companies, among others.
WestJet’s fuel costs fell 21.8 per cent to $214.9-million in the second quarter. Fuel is usually an airline’s largest variable cost, accounting for a third or more of operating expenses. | READ MORE