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Positive momentum for WestJet

WestJet has reported fourth quarter net earnings of $60.9 million, or $0.46 per share and full-year net earnings of $242.4 million, or $1.78 per share; up significantly from the net earnings of $148.7 million, or $1.06 per share, reported for 2011. The financial results mark WestJet’s 31st consecutive quarter of profitability. Based on the trailing twelve months, the airline achieved a return on invested capital of 13.7%, up from the 12.7% reported last quarter. The carrier’s president and CEO, Gregg Saretsky said: “We are very pleased with the positive momentum generated in 2012 that culminated with us reporting record annual earnings, record high load factors and for the second consecutive quarter, we surpassed our return on invested capital target of 12% by achieving 13.7% for the year.” Throughout 2012, the carrier was able to expand its virtual network with the implementation of 13 new interline partnerships and by evolving four existing interline partnerships (Delta Air Lines, Korean Air, China Eastern Airlines and British Airways) into code-share relationships, bringing the total number of airline partnerships to thirty worldwide. “Our positive momentum continues into 2013 as we launch WestJet Encore, add to and evolve our airline partnerships and enhance value to more business and leisure guests. Our introduction of fare bundles and WestJet Plus will include options for more comfort, convenience and flexibility to our guests,” Saretsky said. Go to http://www.westjet.com for additional information.

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