Westjet Profits Down 19% as Costs Mount

As its working costs expanded more than income, WestJet Airlines saw its entire profit drop 19.6% from 2015.
per diluted share, the Calgary-based company net pay for the 12 months that finished Dec. 31 was $295.5 million or $2.45.

It’s a record for Westjet as it was down from $367.5 million or $2.92 per share in 2015.

Last year’s final quarter net revenue was down 12.9%, tumbling to $55.2 million from $63.4 million a year prior.

The quarter’s benefit added up to 47 cents for each diluted share of net revenue, down from 51 cents. Entire year benefit was $2.45 per share, down from $2.92 per share in 2015.

WestJet’s yearly income expanded 2.32% to $4.12 billion and final quarter income was up 6.2% to $1.02 billion, while working costs were up 6.4% for the year and 10.2% for the quarter.