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Monday,  July 22, 2024   4:16 PM
WestJet reports 2014 earnings of $317.2 million

WestJet has announced its fourth quarter and year-end results for 2014, with record adjusted full-year net earnings of $317.2 million.

This compares with the net earnings of $268.7 million reported in the full-year 2013, an increase of 18 per cent, said the airline.

For the fourth quarter of 2014, WestJet reported adjusted net earnings of $90.7 million, up 34 per cent from the $67.8 million reported in Q4 2013. These fourth quarter 2014 results include pre-tax incentive payments of $9.8 million associated with WestJet's new pilot agreement reached in December 2014, and a pre-tax non-cash loss of $2.5 million related to the previously disclosed sale of 10 of the carrier’s oldest Boeing 737 aircraft.

This represents WestJet's 39th consecutive quarter of profitability and based on the trailing twelve months, the airline achieved a return on invested capital of 14.3 per cent, compared with the 13.8 per cent reported in the previous quarter, representing the 10th consecutive quarter in which WestJet exceeded its 12 per cent target.

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