Money WestJet reports Q1 profit falls from year ago

16:30  08 may  2018
16:30  08 may  2018 Source:   msn.com

Canadian airlines offer secret low fares

  Canadian airlines offer secret low fares MONTREAL - Canada's two largest airlines are using an airfare prediction app to unload some of their seats via "secret fares" at discounts of up to 35 per cent. Air Canada and WestJet are among the first global airlines to make their flights available for the large discounts, starting Wednesday. define("homepageFinanceIndices", ["c.deferred"], function () { var quotesInArticleFormCode = "PRMQAP"; var config = {}; config.indexdetailsurl = "/en-ca/money/indexdetails"; config.stockdetailsurl = "/en-ca/money/stockdetails"; config.funddetailsurl = "/en-ca/money/funddetails"; config.

Even though WestJet Airlines reported its best-ever, second-quarter earnings and promised a strong forecast for the rest of year , analysts The company earned a net profit of .6 million, up from .8 million, in the same period a year ago . Despite the results, WestJet ’s shares fell on Tuesday.

WestJet Airlines Ltd. saw its fourth-quarter profit fall compared with a year ago as its costs rose.

a large passenger jet sitting on top of a runway© Provided by thecanadianpress.com

CALGARY - WestJet Airlines Ltd. say its first-quarter profit fell compared with a year ago after what it called a challenging quarter in which it booked higher fuel costs.

The Calgary-based airline says it earned $37.2 million, or 32 cents per diluted share, down from a profit of $46.7 million, or 40 cents per diluted share, a year ago.

That fell short of analysts' expectations for earnings of 36 cents per share, according to data from Thomson Reuters Eikon.

Revenue for the three-month period totalled $1.19 billion, up from $1.11 billion in the same quarter last year.

The increase in revenue came as capacity increased 4.3 per cent and revenue passenger miles — a measure of traffic — increased 6.5 per cent.

WestJet's load factor, a measure of how full its aircraft were, increased to 84.8 per cent compared with 83 per cent a year ago.

However, fuel costs per litre rose 14.1 per cent compared with the same quarter last year.

Companies in this story: (TSX:WJA)

Doug Ford promises to cut gas prices by 10 cents a litre .
A PC government would cut gas taxes a total of 10 cents a litre, Doug Ford said Wednesday. The tax break of a dime includes the 4.3 cents per litre carbon tax the Wynne Liberal administration implemented last year with the rest coming from a reduction in the provincial excise tax. “These are real savings,” Ford said at an Oakville gas station where a litre of regular unleaded gas is priced at just under $1.36. © Tara Walton Ontario PC leader Doug Ford speaks during a campaign stop in Niagara Falls, Ont. on May 14, 2018.

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