WestJet reportsQ2 net earnings of USD 48m

WestJet (TSX: WJA) has announced its second quarter results for 2017, with net earnings of USD 48.4 million, or USD 0.41 per fully diluted share, as compared with the net earnings of USD 36.7 million, or USD 0.30 per fully diluted share reported in the second quarter of 2016, up 32.0 per cent and 36.7 per cent, respectively, the company said.

WestJet achieved its 49th consecutive quarter of profitability and flew a record 5.9 million guests. Based on the trailing twelve months, the airline achieved a return on invested capital of 9.8 per cent, compared with the 10.0 per cent reported in the previous quarter.

On July 31, 2017, 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 2017, to be paid on September 29, 2017, to shareholders of record on September 13, 2017. All dividends paid by WestJet are, pursuant to subsection 89(14) of the Income Tax Act, designated as eligible dividends, unless indicated otherwise. An eligible dividend paid to a Canadian resident is entitled to the enhanced dividend tax credit.

WestJet offers scheduled service to more than 100 destinations in North America, Central America, the Caribbean, and Europe. Through its regional airline, WestJet Encore, and with partnerships with airlines representing every major region of the world, the airline offers more than 150 destinations in over 20 countries.