WestJet reports earnings for Q4, FY 2016

Calgary, Canada-based WestJet (TSX: WJA) has announced full-year 2016 net earnings of USD 295.5 million, or USD 2.45 per diluted share, compared to record net earnings of USD 367.5 million, or USD 2.92 per diluted share reported in the full-year 2015, the airline said.

The airline achieved its 47th consecutive quarter of profitability, reporting fourth quarter net earnings of USD 55.2 million, or USD 0.47 per diluted share compared to USD 63.4 million, or USD 0.51 per diluted share reported in the fourth quarter of 2015.

For the full-year and in each quarter of 2016 the airline flew a record number of guests. Based on the trailing twelve months, the airline recorded a return on invested capital of 11.3 per cent, down 0.3 percentage points from the 11.6 per cent reported in the previous quarter.

The WestJet board of directors declared a cash dividend of USD 0.14 per common voting share and variable voting share for the first quarter of 2017, to be paid on March 31, 2017, to shareholders of record on March 15, 2017.

WestJet Airlines provides scheduled airline services and travel packages. As of December 31, 2015, it operated a fleet of 114 Boeing 737 Next Generation aircraft, 24 Bombardier Q400 aircraft, and 2 Boeing 767-300ERW aircraft for approximately 100 destinations in North America, Central America, the Caribbean, and Europe.