WestJet's net earnings down in 2017, passenger numbers up

WestJet posted full-year net earnings of $283.6 million, down from the airline’s 2016 net earnings of $295.5 million, while achieving its 51st consecutive quarter of profitability, reporting fourth quarter net earnings of $48.5 million compared to $55.2 million reported in the fourth quarter of 2016.

For the full-year and in each quarter of 2017, the airline flew a record number of guests. Based on the trailing twelve months, the airline recorded a return on invested capital of 10 per cent, down 0.2 percentage points from the 10.2 per cent reported in the previous quarter.

"In 2017, we continued our evolution toward becoming a global airline while flying a record number of guests and achieving our highest annual load factor in our history. We announced an agreement to enter a joint venture with Delta Airlines, which will give Canadians more access to our low fares and growing network. We also proudly took delivery of Canada's first Boeing 737 MAX aircraft this fall, and it was in service with high reliability before the busy holiday season," said WestJet President and CEO Gregg Saretsky. "WestJetters care to the core by safely providing our guests with award-winning and friendly service every day. I thank each of the more than 13,000 WestJetters for their work and dedication this quarter, especially in light of the severe cold and weather-related operational challenges."