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WestJet Reports 48.3 Million in Net Profits for First Quarter 2017, A Decrease of 44.9% Year over Year

WestJet Reports 48.3 Million in Net Profits for First Quarter 2017, A Decrease of 44.9% Year over Year

CALGARY – WestJet (TSX: WJA) announced on May 2, 2017, its 48th consecutive profitable quarter, with first quarter 2017 net earnings of $48.3 million, or $0.41 per diluted share. This compares with quarterly net earnings of $87.6 million, or $0.71 per diluted share reported in the first quarter of 2016. These first quarter 2017 results include a pre-tax non-cash adjustment to its maintenance provision of $18.5 million and irregular operations related costs of $7.0 million due to severe winter weather experienced in the quarter. Based on the trailing twelve months, the airline achieved a return on invested capital of 10.0 percent, compared with the 11.3 percent reported in the previous quarter.
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