CALGARY, Nov. 1, 2016 /CNW/ – WestJet (TSX: WJA) today announced its third quarter results for 2016, with net earnings of $116.0 million, or $0.97 per fully diluted share, as compared with net earnings of $101.8 million, or $0.82 per fully diluted share reported in the third quarter of 2015. WestJet achieved its 46th consecutive quarter of profitability and flew a record 5.9 million guests. Based on the trailing twelve months, the airline recorded a return on invested capital of 11.6 per cent, up 0.2 percentage points from the 11.4 per cent reported in the previous quarter.

“I am very pleased with how our robust business model has, even during an economic downturn in Alberta, delivered not only record third quarter net earnings, but also achieved our second best ever quarterly net earnings and earnings per share in our twenty-year history. This combined with our current forward outlook, gives us confidence in achieving positive year-over-year RASM growth starting in the first quarter of 2017, and demonstrates that our strategic plan positions us well for continued profitable growth,” said WestJet President and CEO Gregg Saretsky. “I want to thank our almost 12,000 WestJetters for their continued dedication to safely providing our guests with WestJet’s award-winning brand of friendly caring service.”

Dividend declaration
On October 31, 2016, WestJet’s Board of Directors declared a cash dividend of $0.14 per common voting share and variable voting share for the fourth quarter of 2016, to be paid on December 30, 2016, to shareholders of record on December 14, 2016. All dividends paid by WestJet are, pursuant to subsection 89(14) of the Income Tax Act, designated as eligible dividends, unless indicated otherwise. An eligible dividend paid to a Canadian resident is entitled to the enhanced dividend tax credit.