WestJet Airlines Ltd earnings fall 38% in oil slump, but still beat expectations

, Bitcoin News

Canada’s WestJet Airlines Ltd. reported a higher-than-expected quarterly profit, helped by lower fuel costs.

Canada’s WestJet Airlines Ltd  reported a higher-than-expected quarterly profit, helped by lower fuel costs.

Calgary-based WestJet’s fuel expenses, typically an airline’s largest variable cost, fell nearly 21 per cent to $166.4 million.

WestJet shifted its focus to eastern Canada and suspended nearly a dozen daily flights in January from Alberta’s airports after airlines operating in the oil-rich province started recording a significant decline in passenger traffic.

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