WestJet Q3 Profit Up 95 Pct As Fuel Costs Fall

WestJet Airlines reported a big quarterly profit rise, helped by lower fuel costs and an improved operating margin.

Net earnings rose 95 percent to CAD$101.8 million from a year earlier. Revenue was up 3.5 percent to CAD$1.05 billion.

WestJet's fuel costs fell 27.9 percent to CAD$206.9 million (USD$157.8 million) in the third quarter ended September 30.

Cost per available seat mile fell 5.7 percent to 12.83 cents.

The airline's operating margin rose to 15.3 percent from 12.5 percent.

Calgary-based WestJet is trying to attract customers away from Air Canada by adding international routes and boosting capacity.