WestJet Airlines' Q2 profit declines to $2.3 million from year-ago $7.5 million
Canadian Press
Thursday, July 28, 2005
CALGARY (CP) - Discount air carrier WestJet Airlines Ltd. said Thursday it dropped to a second quarter profit of $2.3 million from year-ago $7.5 million as fuel costs ballooned 29 per cent year-over-year.
The Calgary-based airline said that amounted to a diluted per-share profit of two cents, compared to six cents per share in the same quarter a year before.
Analysts had on average expected profits of 14 cents per share for the period.
WestJet (TSX:WJA) said revenues rose to $326 million in the period ended June 30, up from $257 million in the year-ago quarter.
"We performed exceptionally well at containing our costs this period as our team improved efficiencies and realized unit-cost reductions in virtually every facet of our controllable costs," WestJet president and CEO Clive Beddoe said in a release.
Capacity grew in the quarter, the airline said, with available seat miles increasing by 23.3 per cent to 2.5 billion from 2.1 billion in the same quarter last year. WestJet's load factor for the quarter was 71 per cent, compared with 67.5 per cent in the same period of 2004.
Shares of WestJet dropped 30 cents or 2.3 per cent to $12.90 in Toronto.
Correct me if I'm wrong, but is profit of any kind not a really good thing in the airline world right now?!
How does profit share work at WJ? Is there a threshold for profits before sharing kicks in? Otherwise I would think that if there are profits then the profits would be shared...hence the term "profit sharing"
Blastor, I have no idea where your misdirected schadenfreude comes from today. Whilst Westjet may be kicking the dirt trying to explain why it only made $2.3 million profit, I seem to recall a recent story of Air Canada's corportate brass toasting to that they had only lost $10 million.
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Wow man i gotta say your life must be pretty shitty eh!
And for Profit Share calculated roughly it adds up to about $30, just enough to grab a case of brew and some food!
Just some things you left out of your original post there!
Operating revenue increased this quarter by 26.9% to $326.4 million WestJet grew its capacity by 23.3% to 2.5 billion ASM's Revenue passenger miles (RPMs) increased 29.6% to 1.8 billion this quarter
Wow man i gotta say your life must be pretty shitty eh!
And for Profit Share calculated roughly it adds up to about $30, just enough to grab a case of brew and some food!
Just some things you left out of your original post there!
Operating revenue increased this quarter by 26.9% to $326.4 million WestJet grew its capacity by 23.3% to 2.5 billion ASM's Revenue passenger miles (RPMs) increased 29.6% to 1.8 billion this quarter
Be honest guys/gals......what have you seen in the form of sharing besides 4 free airlines passes in the last 2 years? I am including the last "profit" that was anounced? The numbers can be manipulated to show whatever is wanted...............
Westjet could easily increase its value. All it has to do is ring up it's debt a few billion and then go into bankruptcy emerging unscathed while leaving creditors in the lurch to the tune of billions of dollars.
Any post that criticizes Westjet while praising Air Canada is just pure idiocy.
Weren't some creditors issued ACE stock when the emerged from bankruptcy at a great discount??? Now that the stock is way up, they probably made money on the whole deal.
I have been following the stock for some time. It's dropped down to $12.60 today, do any of you that follow the stock think this is a good time to buy?
profit share returns this fall. mark the post. bullish on Q3! sry buddy stock on the rise too as of 11 30 am.
or a wow he's a tool laugh? 
