WestJet earnings drop 46 percent on weak demand
Nov 4, 2009, 8:05 am
#1
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WestJet earnings drop 46 percent on weak demand
http://ca.reuters.com/article/busine...5A331M20091104
TORONTO (Reuters) - WestJet Airlines Ltd (WJA.TO: Quote) posted a 46 percent decrease in third-quarter earnings on Wednesday as the Canadian airline struggled with weak consumer confidence and heightened competition in the industry.
Canada's No. 2 airline reported earnings of C$31.4 million ($29.6 million), or 24 Canadian cents a share, for the three months to end-September, down from a profit of C$57.9 million, or 45 Canadian cents, in the same period a year earlier.
WestJet's revenue fell 16.4 percent to C$600.6 million.
TORONTO (Reuters) - WestJet Airlines Ltd (WJA.TO: Quote) posted a 46 percent decrease in third-quarter earnings on Wednesday as the Canadian airline struggled with weak consumer confidence and heightened competition in the industry.
Canada's No. 2 airline reported earnings of C$31.4 million ($29.6 million), or 24 Canadian cents a share, for the three months to end-September, down from a profit of C$57.9 million, or 45 Canadian cents, in the same period a year earlier.
WestJet's revenue fell 16.4 percent to C$600.6 million.
Nov 4, 2009, 8:52 am
#2
Join Date: May 2006
Posts: 980
Wow! In these times of recession, and the reporting agency prefers to headline this with a negative spin! Sure, it's true that earnings did drop, but WJA still made money in the 3rd quarter, quite a major feat despite the economic environment! If I were the reporter, I'd change that headline to read something like this: "Westjet still makes 3rd quarter profit despite weak demand". Much more positive and still newsworthy!