Westjet reports excellent fourth quarter
Feb. 10, 2011, Calgary - WestJet today announced its fourth quarter and full-year results for 2010. The airline reported fourth quarter net earnings of $47.9 million, or $0.33 cents per diluted share.
Excluding special items, this represents record fourth quarter net earnings and an increase of 217 per cent compared to the fourth quarter of 2009. WestJet reported full-year net earnings of $136.7 million, or $0.94 cents per diluted share.
"To finish 2010 with our 23rd consecutive profitable quarter, one in which we saw our net earnings increase 217 per cent, is an accomplishment we are all very proud of," commented WestJet President and CEO Gregg Saretsky. "These strong results would not have been possible without the dedication of the more than 8,000 WestJetters who are committed to the continued growth and success of our airline."
WestJet reported a fourth quarter operating margin of 11.4 per cent, compared to 6.3 per cent in the fourth quarter of 2009. For the full year, WestJet achieved an operating margin of 9.5 per cent compared to a 2009 margin of 9.2 per cent, among the best performances of North American airlines.