WestJet Airlines Ltd.'s Faces Disappointing Results
WestJet Airlines Ltd.'s Faces Disappointing Results

A disappointing first quarter result was seen yesterday after the WestJet Airlines Ltd.'s tried to promote its packaged tours this winter and added cost to its new reservation system.

According to the management, positive momentum was seen in both the ticket prices and filling of the planes as the year progressed.

According to WestJet, in the first quarter they earned $13.8 million or 10 cents a diluted share whereas, in the same period last year they earned $37.4 million, or 29 cents a share.

It was informed by Sean Durfy, former Chief Executive that he was leaving for personal reasons and the company had earned $17.8 million, or 12 cents a share.

"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," WestJet Chief Executive Gregg Saretsky said.

According to the management 60% of the cost increases was linked with sales and distribution of the packaged tours.

Saretsky said that the size of the network was increased by WestJet that is around 8% in the first three months of the year, whereas in the second quarter the expected capacity growth was 10%.

According to the airline, it would now grow between 9% and 10% with the extra capacity that would be put in the southern markets.

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