WestJet’s 2018 net earnings nosedive by more than 67 per cent

Calgary company’s total revenue in 2018 rose by 5% to $4.7 billion

Calgary-based WestJet saw its net earnings plunge by 67.2 per cent year over year in 2018.

In reporting its fourth quarter and year-end results on Tuesday, the airline said full-year net earnings of $91.5 million were down from $279.1 million in 2017.

Ed Sims
Ed Sims

Diluted earnings per share also fell by 66.4 per cent to 80 cents from $2.38.

The company’s total revenue in 2018 rose by five per cent year over year to $4.7 billion.

“In 2018 we executed several significant milestones on our path to becoming a high-value global network airline,” said Ed Sims, WestJet president and CEO, in a news release.

“As we enter 2019, we continue to build momentum and are well-positioned to deliver on our strategic initiatives and expand margins. I would like to thank every WestJetter for their hard work through an especially busy holiday season culminating in our WestJet mainline business achieving the highest completion rate in North America in December, as measured by FlightStats.”

– Mario Toneguzzi for Calgary’s Business


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