WestJet profit drops on high fuel prices, weak Canadian dollar

Tue May 6, 2014 5:58am EDT
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May 6 (Reuters) - WestJet Airlines Ltd, Canada's second-largest carrier, reported a 2 percent drop in first-quarter profit due to higher fuel prices and a weaker Canadian dollar.

The company's net earnings fell to C$89.3 million ($81.5 million) in the quarter ended March 31 from C$91.1 million a year earlier.

The Calgary, Alberta-based airline's revenue rose 7.7 percent to C$1.04 billion. Available seat miles rose 8 percent, while revenue passenger miles rose 6.4 percent in the quarter. ($1 = 1.0963 Canadian Dollars) (Reporting By Shubhankar Chakravorty in Bangalore; Editing by Savio D'Souza)