News Releases
CALGARY, July 6 /CNW/ - WestJet today announced June traffic results with a load factor of 72.9 per cent. Revenue passenger miles (RPM) decreased 7.1 per cent year over year and capacity, measured in available seat miles (ASM), declined 2.5 per cent over the same period.
"We continue to tackle the difficulties of a tough economy," said Sean Durfy, WestJet President and CEO. "Staying true to our fundamentals is extremely important in this challenging time for the airline industry. As we continue adapting to the demand environment, we are thankful for our WestJetters who are tirelessly demonstrating an overwhelming willingness to help us reduce costs, while ensuring that our guests are always experiencing exceptional service."
"We were pleased to receive the results of a study conducted by Leger Marketing, one of Canada's most well-known and reputable research firms, indicating that WestJet is Canada's preferred airline," added Sean Durfy. "Our brand and financial strength are big contributors to these results, as the travelling public recognizes that our business model is sustainable and that our guests can book with confidence."
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June 2009 traffic results
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June 2009 June 2008 Change
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Load factor 72.9% 76.5% (3.6 pts.)
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ASMs (billions) 1.412 1.448 (2.5%)
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RPMs (billions) 1.029 1.108 (7.1%)
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Second quarter Second quarter Change
2009 2008
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Load factor 76.1% 79.5% (3.4 pts.)
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ASMs (billions) 4.315 4.235 1.9%
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RPMs (billions) 3.285 3.366 (2.4%)
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Year-to-date 2009 Year-to-date 2008 Change
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Load factor 78.3% 80.7% (2.4 pts.)
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ASMs (billions) 8.672 8.300 4.5%
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RPMs (billions) 6.787 6.697 1.3%
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"We anticipate second quarter revenue per available seat mile (RASM) to be in line with our original expectations of a second quarter year-over-year decline of 16 to 18 per cent," added Sean Durfy. "As we move into the second half of 2009, we will continue to assess our capacity and where we are deploying our aircraft."
In mid-June, WestJet bought out the lease of an 800-series aircraft that it took delivery of in early 2009.
"It is important for us to explore every area where we can save, and find the most effective opportunities to deploy capital," commented Sean Durfy. "In the current environment, returns on traditional forms of short-term investments are low. Deploying some of our cash to buy out this eight-year lease allowed us to reduce our aircraft leasing expense while maintaining flexibility in our liquidity through an unencumbered aircraft."
This disclosure contains forward-looking statements, including but not limited to, statements regarding projected RASM for the second quarter of 2009. These forward-looking statements are based on WestJet's current assumptions and beliefs. However, these forward-looking statements 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 consumer demand, changes in fuel prices, general economic conditions, the competitive environment and other factors described in WestJet's public reports and filings which are available on WestJet's profile at www.sedar.com. Forward-looking statements are subject to change, and WestJet does not undertake to update, correct or revise any forward-looking statements as a result of any new information, future events or otherwise, except as may be required by applicable law.
About WestJet
WestJet is Canada's leading high-value, low-cost airline offering scheduled service throughout its 55-city North American and Caribbean network. Named one of Canada's most admired corporate cultures in 2005, 2006, 2007 and 2008, WestJet pioneered low-cost flying in Canada. WestJet offers increased legroom and leather seats on its modern fleet of 79 Boeing Next-Generation 737 aircraft and live seatback television provided by Bell TV. With future confirmed deliveries for an additional 42 aircraft, bringing its fleet to 121 by 2013, WestJet strives to be the number one choice for travellers.