WestJet posts lower earnings for first quarter 2016

WestJet reported its 44th consecutive profitable quarter with first quarter 2016 net earnings of CAD$87.6m, compared with quarterly net earnings of CAD$140.7m reported in the first quarter of 2015, down 37.7%. Revenues were CAD$1,031.4 in the first quarter, compared to CAD$1,083.5 in the first quarter 2015, down 4.8%. WestJet achieved an on-time performance rate of 83.0% in the first quarter, a significant year-over-year improvement of 5.0 percentage points. Based on the trailing twelve months, the airline achieved a return on invested capital of 12.8%, compared with the 15.3% reported in the previous quarter.