WestJet

WestJet reports record second quarter net earnings of $51.8m

CALGARY — WestJet posted record second quarter results with net earnings of $51.8 million compared with $44.7 million in the second quarter of 2013.

Based on the trailing 12 months, the airline achieved a return on invested capital of 13.7%, consistent with the 13.7% reported in the previous quarter.

“We had a great second quarter, reporting record earnings, exceeding our ROIC target for the eighth consecutive quarter, and achieving an on-time performance rate of 84.5%, a year over year improvement of 3.5 percentage points,” said WestJet President and CEO Gregg Saretsky.

“We continue to execute on our growth plans, including new service to Dublin, Ireland, success with our fare bundles initiative and the expansion of WestJet Encore. Encore celebrated its first birthday in June, recently welcomed its one-millionth guest, and exercised five additional purchase options for Q400 aircraft.”