WestJet Q2 profit falls 40% from last year but revenue steady
CEO says company has 'positive momentum' despite economic weakness in home province of Alberta
WestJet Airlines says its second quarter profit is down 40 per cent from last year but revenue held steady.
The Calgary-based airline reports $36.7 million in net income, or 30 cents per share, from the months of April through June.
That's down from the second quarter of 2015, when net income was $61.6 million or 49 cents per share.
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Overall revenue for the April to June period edged up to $949.3 million from $942 million last year.
The number of passengers flown by WestJet was up seven per cent.
But the revenue per mile flown was down, and WestJet's operating margin dropped to 6.5 per cent from 10.7 per cent.
WestJet President and CEO Gregg Saretsky said he's pleased by the "positive momentum" shown by the business despite the economic weakness of its home province, Alberta.