WestJet Rewards - WestJet profit soars 138%

http://www.ctv.ca/generic/generated/static/business/article1900055.html

WestJet Airlines Ltd. says profit climbed 138 per cent in the fourth quarter as it raced past analyst expectations helped by stronger passenger volumes.

The Calgary-based carrier said it earned $47.9-million, or 33 cents per share, surpassing an average estimate of 17 cents per share according to analysts polled by Thomson Reuters.

That compared to $20.2-million or 14 cents per share a year ago.

http://business.financialpost.com/2011/02/09/westjet-to-put-profit-ahead-of-market-share/

As WestJet Airlines Ltd. begins to lay the foundation for its business strategy through 2020, its chief executive, Gregg Saretsky, says he has put the profitability of the airline at the forefront of his agenda.

For years, the Calgary-based carrier trumpeted its goal of overtaking Air Canada as the largest player in the Canadian domestic market, much to the chagrin of analysts who questioned whether its aggressive growth plans were coming at the expense of shareholder returns.

As a result, while WestJet has been profitable in every quarter five years running, its shares have been called “dead money” by some, having stalled in recent years.

But that paradigm has shifted dramatically under its new chief executive. Mr. Saretsky delivered a record fourth-quarter result Wednesday. Bolstered by the airline industry’s recovery and pricing improvements, WestJet’s net income grew 138% to $48-million, or 33¢ a share, year-over-year, doubling the Street’s consensus estimate.