WestJet's Profit Rises On Lower Fuel Costs

WestJet Airlines reported a 19 percent rise in quarterly profit, helped by lower fuel costs and the addition of new routes.

The company's net earnings rose to CAD$61.6 million in the quarter ended June 30, from CAD$51.8 million a year earlier.

Revenue rose 1.3 percent to CAD$942 million.

WestJet's fuel costs fell 21.8 percent to CAD$214.9 million in the second quarter.

Cost per available seat mile fell 8.1 percent to 12.65 cents.

WestJet is looking to attract customers away from Air Canada by adding international routes and boosting capacity while keeping fares down.

WestJet's revenue per available seat mile (RASM) fell 5.7 percent, mainly due to lower fares.