WestJet profit rises 16 pct

Tue Jul 29, 2014 5:27am EDT
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July 29 (Reuters) - WestJet Airlines Ltd, Canada's No. 2 carrier, reported a 16 percent rise in quarterly earnings, helped by a 5.5 percent rise in revenue passenger miles.

The Calgary, Alberta-based airline said its net profit rose to C$51.8 million ($47.9 million), or 40 Canadian cents per share, in the second-quarter months ended June 30, from C$44.7 million, or 34 Canadian cents a share, a year earlier. Revenue rose 10.3 percent to C$930.7 million.

Revenue passenger miles is calculated by multiplying the number of revenue-paying passengers by distance traveled. ($1 = 1.0805 Canadian dollars) (Reporting by Sneha Banerjee; Editing by Ted Kerr)