WestJet profits grow despite poor economy Last Updated Mon Jan 28 14:28:05 2002 CALGARY - While other Canadian airlines have struggled or shut down amid the current economic downturn, WestJet (TSE:WJA) continues to make money. The discount airline on Monday reported its twentieth consecutive quarterly profit. The Calgary company had net earnings of $9.4 million in the fourth quarter of last year, up 14.3 per cent from $8.2 million in 2000. On a per-share basis, the company made 20 cents per share, up two cents from the fourth quarter of last year. WestJet said those figures were ahead of its expectations. Revenues for the quarter rose 41.8 per cent from Q4 of 2000 to $132.9 million. "Despite a challenging fourth quarter for both WestJet and our industry as a whole, 2001 ended extremely positively for our airline," WestJet chief executive Clive Beddoe said in a release. "Though our industry has never experienced as devastating a blow as it did on the days and weeks that followed September 11, we at WestJet have been extremely encouraged by the speed in which business has returned," Beddoe said. "Despite such a major impact, the effect caused only a slight decline in our load factor and yield in this quarter," he said. For the full year, WestJet made $37.2 million, up from $30.3 million in 2000. Revenues for the year were up 43.9 per cent to $478.4 million Written by CBC News Online staff The owner of Roger's Trinbago Site: Roj (Roger James) *************************************************** Trinbago site: http://www.tntisland.com ICQ: ICQ # 15836110 ICQ Pager: mailto:15836110@pager.icq.com escape email #!1 mailto:ejames@escape.ca yahoo email #2: mailto:triniroj@yahoo.com Yahoo Pager: triniroj Caribbean Brass & Soca Connection Group on Yahoo: http://groups.yahoo.com/group/caribsocabrass Caribbean Brass & Soca Connection Club Website http://www.tntisland.com/caribbeansocabrassconnection/ ******************************************************* Steel Expressions Orch http://www.escape.ca/~ejames/se/ email #1: mailto:steelexpressions@yahoo.com email #2: mailto:steelexpressions@home.com ******************************************************* The Trinbago Site of the Week: (Revellers Mas Band) http://www.revellers.com/ (Trini Revellers Mas Band) courtesy of Roj Trinbago Website & TnT Web Directory Roj's Trinbago Website: http://www.tntisland.com TnT Web Directory: http://195.224.187.36/ *********************************************************