• Diluted EPS of $1.18, up 22 per cent
  • Highest quarterly EPS in its 21-year history
  • 50th consecutive profitable quarter
  • ROIC improves to 10.2 per cent, up 40 basis points from the previous quarter
  • Highest ever quarterly load factor of 85.7 per cent
  • All-time quarterly record of 6.5 million guests in the third quarter

WestJet (TSX: WJA) today announced its third quarter results for 2017, with record net earnings of $138.4 million, or $1.18 per fully diluted share, as compared with the net earnings of $116.0 million, or $0.97 per fully diluted share reported in the third quarter of 2016, up 19.4 per cent and 21.6 per cent, respectively. WestJet achieved its 50th consecutive quarter of profitability and flew an all-time quarterly record of 6.5 million guests. Based on the trailing twelve months, the airline achieved a return on invested capital of 10.2 per cent, up compared to the 9.8 per cent reported in the previous quarter.

"Today we reported our 50th consecutive profitable quarter, which included record earnings, margin expansion, positive year over year RASM growth, and improved return on invested capital, as we achieved the highest ever quarterly load factor in our 21-year history and flew an all-time quarterly record number of guests. Our business fundamentals continue to strengthen, which combined with new strategic initiatives, including the launching of Swoop in the summer of 2018 and Boeing Dreamliner service starting in 2019, gives us great confidence in our ability to deliver sustainable profitable growth and earnings expansion," said WestJet President and CEO Gregg Saretsky. "I want to thank our more than 13,000 WestJetters for their dedication and energy in delivering our award-winning brand of friendly caring service, and I especially look forward to celebrating our success at the November profit share event."

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Dividend declaration
On October 30, 2017, WestJet's Board of Directors declared a cash dividend of $0.14 per common voting share and variable voting share for the fourth quarter of 2017, to be paid on December 29, 2017, to shareholders of record on December 13, 2017. All dividends paid by WestJet are, pursuant to subsection 89(14) of the Income Tax Act, designated as eligible dividends, unless indicated otherwise. An eligible dividend paid to a Canadian resident is entitled to the enhanced dividend tax credit.

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