WestJet's new fleet plan comprises deferrals, 14 new orders

WestJet yesterday announced a revised fleet plan featuring deferred delivery of 16 aircraft and purchase of an additional 14 737-700s that will see the Canadian LCC operating between 112 and 135 planes at the end of 2016.

The 14 new aircraft will be delivered in 2015-16. The airline, which currently flies 81 737s, also has 23 leases with Aviation Capital Group up for renewal between 2013 and 2016.

WestJet's previous plan called for a fleet of 121 aircraft by 2013 and now provides for between 108 and 111 that year. The deferrals comprise both leased and purchased aircraft, Boeing said. WS President and CEO Sean Durfy said the revisions "better match our strategic plans."

The airline said the plan "aligns with the current and planned launch of interline and codeshare partnerships, the continued rapid growth of its WestJet Vacations business and. . .plans to grow its share of the business traveler market."

It will take delivery of five more aircraft this year and will enter 2010 with 86 planes. It will take an additional five next year, leading to 2010 capacity growth of 5%-10%. Seven more 737s will arrive in both 2011 and 2012, with six planned for each of the following two years. Three leases are set to expire in 2013. By the end of 2014, WS will have between 114 and 117 aircraft. Ten deliveries now are scheduled for 2015 and eight for 2016, with 12 and eight leases set to expire in those two years respectively.

"It is clear that additional aircraft are needed to meet our strategic growth plans, and we feel comfortable in the capacity and balance-sheet flexibility this improved fleet plan provides," Durfy said.