Dominion Lending Centres Clearlease Reports WestJet Airlines, Canada’s No. 2 carrier, post Q1 profit
VANCOUVER, BRITISH COLUMBIA – (May 3, 2011) Clearlease Reports WestJet Airlines Ltd , Canada’s No. 2 carrier, posted a big jump in its first-quarter profit, beating market estimates, as higher passenger traffic and fare increases offset a rise in fuel costs.
For the second quarter, the low-cost airline projected fuel costs, excluding hedging, of 95-98 Canadian cents per liter. Fuel costs were 85 Canadian cents in the first quarter.
WestJet, which shifted to reporting under International Financial Reporting Standards (IFRS) in the first quarter, said January-March profit rose to C$48.2 million, or 34 Canadian cents a share, from C$2.4 million, or 2 Canadian cents a share, a year earlier.
Last year’s results have been restated in accordance with IFRS, the company said.
The airline, whose main rival is Air Canada Inc , the country’s biggest airline, said revenue for the quarter rose 25 percent to C$772.4 million.
Analysts had expected earnings of 18 Canadian cents a share, on revenue of C$738.03 million, according to Thomson Reuters I/B/E/S.
WestJet said its traffic levels, measured in revenue passenger miles, rose 11.7 percent. Capacity measured in available seat miles rose 11.3 percent.
Revenue per available seat mile (RASM) — a key measure of topline performance for airlines — was up 12.1 percent in the first quarter. Load factor rose to 82 percent from 81.7 percent.
Costs per available seat mile (CASM) rose 4.5 percent in the quarter on the back of rising fuel costs, but declined 3.3 percent after fuel and employee profit-sharing expenses were stripped out.
WestJet is expecting adjusted CASM to be relatively flat in the first half of the year, over the last year.
Last week, the airline announced more flights and service perks on flights between Toronto, Montreal and Ottawa as it tries to lure more business passengers.
The airline’s stock is up about 1 percent this year, well ahead of Air Canada’s shares, which are down by a third, weighed in part by ongoing tough labor negotiations. WestJet shares closed at C$14.28 on Monday on the Toronto Stock Exchange.
Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
VANCOUVER, BRITISH COLUMBIA – (May 3, 2011) Clearlease Reports WestJet Airlines Ltd , Canada’s No. 2 carrier, posted a big jump in its first-quarter profit, beating market estimates, as higher passenger traffic and fare increases offset a rise in fuel costs.
For the second quarter, the low-cost airline projected fuel costs, excluding hedging, of 95-98 Canadian cents per liter. Fuel costs were 85 Canadian cents in the first quarter.
WestJet, which shifted to reporting under International Financial Reporting Standards (IFRS) in the first quarter, said January-March profit rose to C$48.2 million, or 34 Canadian cents a share, from C$2.4 million, or 2 Canadian cents a share, a year earlier.
Last year’s results have been restated in accordance with IFRS, the company said.
The airline, whose main rival is Air Canada Inc , the country’s biggest airline, said revenue for the quarter rose 25 percent to C$772.4 million.
Analysts had expected earnings of 18 Canadian cents a share, on revenue of C$738.03 million, according to Thomson Reuters I/B/E/S.
WestJet said its traffic levels, measured in revenue passenger miles, rose 11.7 percent. Capacity measured in available seat miles rose 11.3 percent.
Revenue per available seat mile (RASM) — a key measure of topline performance for airlines — was up 12.1 percent in the first quarter. Load factor rose to 82 percent from 81.7 percent.
Costs per available seat mile (CASM) rose 4.5 percent in the quarter on the back of rising fuel costs, but declined 3.3 percent after fuel and employee profit-sharing expenses were stripped out.
WestJet is expecting adjusted CASM to be relatively flat in the first half of the year, over the last year.
Last week, the airline announced more flights and service perks on flights between Toronto, Montreal and Ottawa as it tries to lure more business passengers.
The airline’s stock is up about 1 percent this year, well ahead of Air Canada’s shares, which are down by a third, weighed in part by ongoing tough labor negotiations. WestJet shares closed at C$14.28 on Monday on the Toronto Stock Exchange.
Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk
Dominion Lending Centres Clearlease Reports WestJet Airlines, Canada’s No. 2 carrier, post Q1 profit
VANCOUVER, BRITISH COLUMBIA – (May 3, 2011) Clearlease Reports WestJet Airlines Ltd , Canada’s No. 2 carrier, posted a big jump in its first-quarter profit, beating market estimates, as higher passenger traffic and fare increases offset a rise in fuel costs.
For the second quarter, the low-cost airline projected fuel costs, excluding hedging, of 95-98 Canadian cents per liter. Fuel costs were 85 Canadian cents in the first quarter.
WestJet, which shifted to reporting under International Financial Reporting Standards (IFRS) in the first quarter, said January-March profit rose to C$48.2 million, or 34 Canadian cents a share, from C$2.4 million, or 2 Canadian cents a share, a year earlier.
Last year’s results have been restated in accordance with IFRS, the company said.
The airline, whose main rival is Air Canada Inc , the country’s biggest airline, said revenue for the quarter rose 25 percent to C$772.4 million.
Analysts had expected earnings of 18 Canadian cents a share, on revenue of C$738.03 million, according to Thomson Reuters I/B/E/S.
WestJet said its traffic levels, measured in revenue passenger miles, rose 11.7 percent. Capacity measured in available seat miles rose 11.3 percent.
Revenue per available seat mile (RASM) — a key measure of topline performance for airlines — was up 12.1 percent in the first quarter. Load factor rose to 82 percent from 81.7 percent.
Costs per available seat mile (CASM) rose 4.5 percent in the quarter on the back of rising fuel costs, but declined 3.3 percent after fuel and employee profit-sharing expenses were stripped out.
WestJet is expecting adjusted CASM to be relatively flat in the first half of the year, over the last year.
Last week, the airline announced more flights and service perks on flights between Toronto, Montreal and Ottawa as it tries to lure more business passengers.
The airline’s stock is up about 1 percent this year, well ahead of Air Canada’s shares, which are down by a third, weighed in part by ongoing tough labor negotiations. WestJet shares closed at C$14.28 on Monday on the Toronto Stock Exchange.
Video Link: http://youtu.be/f_kk7WJa7Uk
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
Video Link: http://youtu.be/f_kk7WJa7Uk