WestJet Airlines Ltd. is reported to witness its profit plunge by a disappointing 63% in the first quarter on account of lowered ticket prices along with higher commissions offered to travel agents relied on the carrier's earnings.

"We are very pleased to be starting 2010 with another quarter of profitability especially in light of the challenging economic environment and rising energy costs", said Gregg Saretsky, WestJet Chief Executive, in a statement.

The Calgary-based registered an earnings of $13.8-million, or 10¢ a diluted share, remarkably down compared to $37.4-million, or 29¢, for the same period a year ago.

Excluding certain one-time times, earnings reported are 12¢ a share, under the Street's expectations of 15¢ a share, estimated Thomson Reuter's estimates.

Total revenue marked a rise 7% during the quarter to $619.8-million. Similarly, its expenses, triggering from increased commissions offered to travel agents on its WestJet Vacations products as well as increased fuel costs.

The presence of continued pressure on fares posed as a threat to the company's profitability during the quarter as yields marked a further plunge 2.4% in the first three months of the year.