Loading ...During a very difficult time for the air travel industry, discount carrier WestJet has actually saw its profits increase three-fold, according to a report in the Calgary Herald. The airline’s profit margins show impressive signs of increase over figures from the previous year, with WestJets profits standing at just over $30 million during the second fiscal quarter. Sean Durfy, WestJet’s chief executive, did not hide his satisfaction when he found out about these very positive numbers for the airline, and told journalists that he was “over the moon” in joy.
Despite the good news, when a multi million write down loss was figured in, profits actually declined slightly from last year, but shares still closed at a higher than expected 26 cents each. Most thought that WestJet would remain profitable, but the general consensus was that the carrier’s profits would rise bringing the value of shares to 17 cents.
Durfy, however, said that he and his fellow executives remain ecstatic over the fact that the carrier managed to produce such impressive profits, during a time of unparalleled troubles for the commercial airline industry, especially with record high fuel prices and an economic slowdown making for especially difficult market conditions.
WestJet is a discount airline based in western Canada. The carrier focuses on both domestic flights, as well as trans-border routes to popular holiday destinations in the United States.
Thank you to Gina Teel of the Calgary Herald for the initial report.
www.westjet.com
