Wednesday, February 17, 2010

WestJet profit Q4 profit falls to $20.2 million, down 51.9 per cent from a year before

From The Canadian Press, February 17, 2010 - 10:41 a.m.
CALGARY - The chief executive of WestJet Airlines Ltd. (TSX:WJA) says he remains wary of reports of an economic recovery.
WestJet CEO Sean Durfy says he expects the Calgary-based airline to face continued pressure on fares in the first quarter of 2010. His comments came as WestJet reported a 51.9 per cent drop in fourth-quarter net profit and reduced revenues compared with the same period of 2008.
WestJet's net income in the fourth quarter fell to $20.2 million or 14 cents per share, down from $42.0 million or 33 cents per share a year earlier. Revenue was down 7.4 per cent to $570 million from $615.8 million in the fourth quarter of 2008.
WestJet did better than analyst estimates compiled by Thomson Reuters, which called for five cents per share in earnings and $562 million of revenue.

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