WestJet reported a third-quarter net profit of C$101.8 million ($75.9 million), nearly double net income of C$52.2 million in the 2014 September quarter.
The Calgary-based low-cost carrier’s third-quarter revenue rose 3.5% year-over-year to C$1.05 billion while expense increased 0.2% to C$885.5 million, producing an operating profit of C$159.5 million, up 26.8% over operating income of C$125.8 million in the prior-year period.
WestJet has been in the black for 42 consecutive quarters.
WestJet’s third-quarter traffic heightened 4.5% year-over-year to 5.65 billion RPMs on a 6.2% lift in capacity to 6.91 billion ASMs, producing a load factor of 81.8%, down 1.3 points. Yield fell 1% to C$0.185.
The company’s return on invested capital (ROIC) was 16.1% for the 12 months ended September 30, slightly outpacing its 13%-16% ROIC target. The carrier’s on-time performance during the quarter was 86%, up 4.1 points year-over-year, which CEO Gregg Saretsky pointed out led North American airlines for the second straight quarter.