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WestJet announces record January load factor of 76.8 per cent

Posted on: Wednesday, 4 February 2009, 07:30 CST

Airline reports a 10.3 per cent increase in revenue passenger miles

CALGARY, Feb. 4 /PRNewswire-FirstCall/ - WestJet today announced strong January traffic results with a record January load factor of 76.8 per cent. Revenue passenger miles (RPM) increased 10.3 per cent year over year and capacity, measured in available seat miles (ASM), grew 9.4 per cent over the same period.

"We are pleased with our increased load factor for the month of January," commented Sean Durfy, WestJet President and CEO. "Our traffic results demonstrate the success of our efforts to continue to profitably grow. With over 35,000 more guests coming onboard this January compared to last, we are further penetrating all the markets we serve.

"Given the continuing economic downturn, we are cautious with respect to our year-over-year revenue per available seat mile (RASM) predictions. It is difficult to compare the first quarter of 2009 to our record first quarter of 2008 that saw us increase RASM by eight per cent year over year. Our first quarter of 2008 benefited from Easter taking place in March as well as a more robust economy in Western Canada. Presently, we are seeing downward pressure on our yields, contributing to an expected decline in year-over-year RASM for the first quarter of 2009."

January 2009 traffic results ------------------------------------------------------------------------- January 2009 January 2008 Change ------------------------------------------------------------------------- Load factor 76.8% 76.2% 0.6 pts. ------------------------------------------------------------------------- ASM (billions) 1.485 1.357 9.4% ------------------------------------------------------------------------- RPM (billions) 1.141 1.034 10.3% -------------------------------------------------------------------------

"Our cost structure, value proposition and respected brand help us weather the challenges of economic downturns," continued Sean Durfy. "With the continued commitment and enthusiasm of our WestJetters we remain positive about WestJet's strategy and outlook."

This disclosure contains forward-looking statements, including but not limited to, statements regarding projected RASM for the first quarter of 2009. However, these forward-looking statements are subject to, and may be affected by, numerous risks and uncertainties, some of which are beyond WestJet's control. WestJet's results may differ materially from those expressed in or implied by such statements. Factors that could cause or contribute to these differences include, but are not limited to: changes in consumer demand, changes in fuel prices, general economic conditions, the competitive environment and other factors described in WestJet's public reports and filings. Forward-looking statements are subject to change, and WestJet does not undertake to update, correct or revise any forward-looking statements as a result of any new information, future events or otherwise, except as may be required by applicable law.

About WestJet

WestJet is Canada's leading high-value low-cost airline offering scheduled service throughout its 55-city North American and Caribbean network. Named one of Canada's most admired corporate cultures in 2005, 2006, 2007 and 2008, WestJet pioneered low-cost flying in Canada. WestJet offers increased legroom and leather seats on its modern fleet of 76 Boeing Next-Generation 737 aircraft and live seatback television provided by Bell ExpressVu. With future confirmed deliveries for an additional 45 aircraft, bringing its fleet to 121 by 2013, WestJet strives to be the number one choice for travellers.

SOURCE WestJet

Source: PR Newswire

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