Source: http://www.theglobeandmail.com/servlet/ ... iness/homeCALGARY — WestJet Airlines says Alexander (Sandy) Campbell, executive vice-president of finance and chief financial officer, is leaving the company as of June 15.
Mr. Campbell joined WestJet in May 1996, three months after the airline's first flights, as corporate controller before being appointed CFO in September 1997.
“It saddens me to be losing such a valued member of our executive team,” CEO Clive Beddoe said in a release.
“Despite the extremely challenging nature of our industry, Sandy has successfully built our company's foundation for financial prudence and cost management and his successor will be fortunate to inherit the systems and great management team that Sandy hired and developed.”
Mr. Campbell said he “certainly enjoyed” his time at WestJet over the last 10 years. “Although it will be difficult to say goodbye to such a great team of people, I have decided that now is the best time for me to make a change.”
WestJet is Canada's top low-fare airline, offering scheduled service with a 33-city North American network.
WestJet CFO leaving
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WestJet CFO leaving
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cedar tree
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Don Bell and Clive Beddoe are the only remaining from the original board? Needleman, Hill, Morgan, and Campbell are on to new things. What impact does this have? Will WestJet continue to grow? Are the big stock price jumps over? A company can only water a stock for so long.
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complexintentions
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I would agree the reasons for the founders leaving are probably not that sinister. But to think it won't majorly affect the corporate culture and overall makeup of the company would be a mistake, IMO.
Also, the concentration of power in the hands of Beddoe doesn't instill warm fuzzies either. I think the days of balanced management at WJ are behind them. Only time will tell - certainly from a pilot's perspective, it's good to see wage gains. Hopefully those gains are sustainable.
Also, the concentration of power in the hands of Beddoe doesn't instill warm fuzzies either. I think the days of balanced management at WJ are behind them. Only time will tell - certainly from a pilot's perspective, it's good to see wage gains. Hopefully those gains are sustainable.
I’m still waiting for my white male privilege membership card. Must have gotten lost in the mail.
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tonysoprano
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It's sad to see founding members leave, but anyone who thinks the current people running it are in trouble...why? Look at the numbers people! The load factor for February 80%
The current people in charge are doing a fine, fine job. Numbers speak for themselves. Hopefully the profits will increase as well, and I think we will be seeing that happen this year...
Can you imagine if ACA decided to post a PR everytime someone on the corporate side left, or was moved around or whatever else? You wouldn't even have time to read them all.
WestJet is fine.
The current people in charge are doing a fine, fine job. Numbers speak for themselves. Hopefully the profits will increase as well, and I think we will be seeing that happen this year...
Can you imagine if ACA decided to post a PR everytime someone on the corporate side left, or was moved around or whatever else? You wouldn't even have time to read them all.
WestJet is fine.
Trickkles,
That "founding member" you're referring to is indeed twisted about his departure. Obviously the whole story never came out.
C206pilot,
Load Factors are important but not as important as yeild. Sure, fill up the aircraft with bodies but if you're fares are such that they don't actually make money then Load Factors mean diddly. (except cash flow...maybe).
On another note, I can't say I disagree with your comment about ACA.
Gear Up!
That "founding member" you're referring to is indeed twisted about his departure. Obviously the whole story never came out.
C206pilot,
Load Factors are important but not as important as yeild. Sure, fill up the aircraft with bodies but if you're fares are such that they don't actually make money then Load Factors mean diddly. (except cash flow...maybe).
On another note, I can't say I disagree with your comment about ACA.
Gear Up!
Trickkles wrote:Also the 80% load factor for February, is to say the least a 'temporary thing'. More seats were sold on WJ due to massive advertising and seat discounting to celebrate WJ's birthday.
I believe March's numbers will be a more realistic story of WJ's executive's decisions.
"WestJet's Load Factor Sets a Record High for March"
EAT IT, BITCH!!
Good for WJ fillin some serious seats in March...however as Gearup said yield is the true indication, here some numbers for show and tell.
7000 seats X 80% load factor=5600 sold @ $150= $840,000
7000 seats X 60% load factor=4200 sold @ $250= $1,050,000
Now before WJ faithful come out swinging I am not saying the 81% load factor is peanuts in fact they very good numbers, I would also like to know if they included their charters from Transat into the total since the seats are sold as a group and not current prices.....
7000 seats X 80% load factor=5600 sold @ $150= $840,000
7000 seats X 60% load factor=4200 sold @ $250= $1,050,000
Now before WJ faithful come out swinging I am not saying the 81% load factor is peanuts in fact they very good numbers, I would also like to know if they included their charters from Transat into the total since the seats are sold as a group and not current prices.....
Yes, Westjet includes charters in its load factor calculations. They are noted as 100% load factor as the aircraft is PAID FOR whether there are 2 people on the aircraft or full at 136. Westjet had the highest margins of all carriers in North America in Q4 (second, I believe, in Q3), and with our record load factors I'm willing to bet we'll once again have the highest margins and a very nice profit to boot.
You can only post "WestJet is awesome" in this forum and you have to say it in a cult like chant.
It's funny everytime I see someone try to post something about WJ that is not ass kissing you get phases like "EAT IT BITCH", "are you kidding me look at are loadfactor", and the the latest 81 818 181818181818181818181818181818181818181818181818181818181................oh sorry .9%
I'm already lubed up so lets have it!!
It's funny everytime I see someone try to post something about WJ that is not ass kissing you get phases like "EAT IT BITCH", "are you kidding me look at are loadfactor", and the the latest 81 818 181818181818181818181818181818181818181818181818181818181................oh sorry .9%
I'm already lubed up so lets have it!!
Thanks. Except you meant to say 'warranted.'Rebel wrote:Wow the sign of a real class act by a real man to make an unwarranted remark like that..C206Pilot wrote:
EAT IT, BITCH!!
P.S. I'm tired of geniuses forecasting how WestJet's success is a 'temporary thing' like they know what the hell they're talking about. Let's not forget this is the most successful airline in Canada whether you like them or not. Am I wrong? One unprofitable quarter in the airlines entire history, due to the untimely retirement of 200 series aircraft. I guarantee the next quarter will record more of a significant profit. If I'm wrong, use my own words against me. I welcome it.
