WestJet reports net loss of USD 20.8m in Q2 2018

WestJet (TSX: WJA) has reported a net loss of USD 20.8m, or USD 0.18 per fully diluted share in the second quarter 2018, the company said.

This result compares with net earnings of USD 48.6 million, or USD 0.41 per fully diluted share reported in the second quarter of 2017.

Based on the trailing twelve months, the airline achieved a return on invested capital of 7.7 per cent, down from 9.8 per cent in the second quarter of 2017. Year-to-date, WestJet recorded net earnings of USD 16.4 million, or USD 0.14 per fully diluted share.

Total revenue in the second quarter was USD 1,087.6m, a 2.8% increase over USD 1,058.3 in the same quarter in 2017.

On July 30, 2018, WestJet´s board of directors declared a cash dividend of USD 0.14 per common voting share and variable voting share for the third quarter of 2018, to be paid on September 28, 2018, to shareholders of record on September 12, 2018.

Together with WestJet´s regional airline, WestJet Encore, the airline offers scheduled service to more than 100 destinations in North America, Central America, the Caribbean and Europe and to more than 175 destinations in over 20 countries through its airline partnerships.