WestJet reports 2015 profit of CA$367.5m up 29%

WestJet released fourth quarter and year-end results for 2015, with full-year net earnings of CA$367.5m. This compares with the adjusted net earnings of CA$317.2m reported in the full-year 2014, up 16% and 19%, respectively. For the fourth quarter, the airline reported diluted earnings per share of CA$0.51, down 27% from CA$0.70 reported last year. These fourth quarter 2015 results include a pre-tax loss on foreign exchange of CA$10.1m.  WestJet also announced that the Toronto Stock Exchange has approved WestJet’s amendment to its existing normal course issuer bid to increase the maximum number of shares the Company is authorized to purchase from 4 million shares to 6 million shares during the period of May 13, 2015 to May 12, 2016.