WestJet reports first quarter net earnings of $89m

WestJet released its first quarter results for 2014, with net earnings of $89.3m, compared with the net earnings of $91.1m in the first quarter of 2013. Based on the trailing twelve months, the airline achieved a return on invested capital of 13.7%, compared with the 13.9% reported in the previous quarter. These results include pre-tax recoveries of value added taxes of $17.6m associated with fuel costs and $2.5m associated with airport costs incurred from 2009 to 2013.