Profits Down at WJ ..

[Localizer]

WestJet Q1 revenue rises seven per cent, profit falls by 63 per cent

Westjet Airlines planes sit on the tarmac at Calgary Airport on Tuesday Feb. 16, 2010. WestJet Airlines Ltd. earned $13.8 million in the first quarter, down 63 per cent from the same time last year — in part because of the departure of its chief executive officer. THE CANADIAN PRESS/Larry MacDougal

CALGARY - WestJet Airlines Ltd. (TSX:WJA) earned $13.8 million in the first quarter, down 63 per cent from the same time last year - in part because of the departure of its chief executive officer.

The year's first quarter included a $3.7-million expense related to the departure of Sean Durfy, who surprised WestJet observers in March when he announced his decision to resign as president and CEO for personal reasons.

The Calgary-based airline says its net income amounted to 10 cents per diluted share, including special items.

That's down from $37.4 million or 29 cents per share in the first quarter of 2009, when the company got a $2.2-million boost from a tax-related special item.

WestJet revenue improved to $619.8 million in the first three months of this year, up seven per cent from $579.3 million in the first quarter of 2009.

[Troubleshot]

Revenue up $40 million compared to Q1 2009 and profit in first quarter....I'd say well done

[matrix]

I wish I could resign from my job and take $3 Mill with me.

I wonder how much he would have been given had he been fired?

[invertedattitude]

So revenue is up 7%, and even factoring SD's departure, profits are down, way down from 1st quarter 2009.

Fuel prices have been just about stagnant in the last year, so what's the excuse for the lackluster performance?

[Airbrake]

ancillary revenue down dramatically

as well increase in costs to Travel agents

[whiteguy]

I wonder how much he would have been given had he been fired?

$3.7 million!!!!

[KAG]

I'm going to guess that Q1 2009 had a lot of advanced bookings with higher yelds, where this year yelds are down. I would have thought with the Olympics our numbers would have been higher.
We're not out of the woods yet folks.

[Galaxy]

Would the Sabre issues have a big part in this?

[Flightlevels]

youtube vid about the quarter
http://www.youtube.com/wjowner

[balfour]

We are not just another airline.....We are WestJet. Go get em!

http://www.youtube.com/wjowner#p/u/1/1JiOP8E3-_A

[flyer 1492]

I think I am going to be sick

[whiteguy]

We are not just another airline.....We are WestJet. Go get em!

http://www.youtube.com/wjowner#p/u/1/1JiOP8E3-_A

Are you kidding me! First airline in North America to be back up and running after 9/11? Ya must have been tough recovering your 20 aircraft stuck around half the country! 6

[Mustard]

LOL!!!!!
Everyone is forced to give their paycheck back to the company. Of course it is profitable........now.

[TyrellCorp]

Everyone is forced to give their paycheck back to the company. Of course it is profitable........now.

They didn't have to "force" anyone. That's how the Kool-Aid works.

[xsbank]

Canadian Pacific, Pacific Western, Time Air, Air BC, Jetblue/Bluejet (forgotten), Nationaire, Nordair, Air Canada (mostly, Wardair, Eastern Provincial, Jetsgo, That Asian One in YVR. Plus others that I have forgotten.

You are not immune.

[double-j]

Canadian Pacific, Pacific Western, Time Air, Air BC, Jetblue/Bluejet (forgotten), Nationaire, Nordair, Air Canada (mostly, Wardair, Eastern Provincial, Jetsgo, That Asian One in YVR. Plus others that I have forgotten.

You are not immune.

FWIW, Time air and Air BC amalgamated into what is now Jazz. But I'm sure you knew that.

Also I wouldn't bet against us..

jj

[balfour]

Yet Air Canada is the only one that does deserve to go away.... for good.....and when you do......I'll be waiting, with the same fake smile I give each and everyone of you I when I see you.

[bcflyer]

Good old Balfour. Your colleagues must be so proud to have you as one of their own...

[balfour]

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[balfour]

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