News Releases

WestJet Announces Normal Course Issuer Bid

CALGARY, Feb 26 /CNW/ - WestJet Airlines Ltd. (TSX:WJA) (WestJet) is
pleased to announce that the Toronto Stock Exchange (TSX) has accepted its
notice to make a normal course issuer bid to purchase outstanding shares on
the open market, in accordance with the rules of the TSX.
As approved by the TSX, WestJet is now authorized to purchase up to
2,000,000 common voting shares or variable voting shares (collectively,
shares), representing approximately 1.5 per cent of the airline's currently
issued and outstanding shares. As of today's date, there are 129,815,161
shares outstanding, 16,911,389 shares of which are held by insiders.
WestJet is authorized to make purchases during the period of February 28,
2007 to February 27, 2008, or until such earlier time as the bid is completed
or terminated at the option of WestJet. Any shares WestJet purchases under
this bid will be purchased on the open market through the facilities of the
TSX at the prevailing market price at the time of the transaction. Shares
acquired under the bid will be cancelled.
WestJet believes that, from time to time, the market price of its shares
may not reflect their underlying value. At such times, the purchase of shares
for cancellation will be advantageous to shareholders by increasing the value
of shares remaining. The purchase of shares will also offset the dilutive
affect of the issuance of shares pursuant to the exercise of stock options.

WestJet is Canada's leading low-fare airline offering scheduled service
throughout its 35-city North American and Caribbean network. Named Canada's
most admired corporate culture in 2006, WestJet pioneered low-cost high-value
flying in Canada. With increased legroom and leather seats on its modern fleet
of Boeing Next-Generation 737 aircraft, and live seatback television provided
by Bell ExpressVu on the majority of its fleet, WestJet strives to be the
number one choice for travellers.

This discussion may contain forward-looking statements and are subject
to, and may be affected by, numerous risks and uncertainties, some of which
are beyond WestJet's control. WestJet's results may differ materially from
those expressed in or implied by such statements. Factors that could cause or
contribute to these differences include, but are not limited to: changes in
government policy, exchange rates, interest rates, disruption of supplies,
volatility of fuel prices, terrorism, general economic conditions, the
competitive environment and other factors described in WestJet's public
reports and filings. Forward-looking statements are subject to change and
WestJet does not undertake to update, correct or revise any forward-looking
information as a result of any new information, future events or otherwise.