Canadian airline WestJet's quarterly profit jumps 34 pct

Tue Feb 3, 2015 6:51am EST
 
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Feb 3 (Reuters) - Canada's WestJet Airlines Ltd reported a 34 percent rise in quarterly profit, helped by lower costs and higher revenue passenger miles.

The company's net earnings rose to C$90.7 million ($72.4 million), or 70 Canadian cents per share, in the fourth quarter ended Dec. 31 from C$67.8 million, or 52 Canadian cents per share, a year earlier.

WestJet's revenue passenger miles rose 6.5 percent. Revenue passenger miles is calculated by multiplying the number of revenue-paying passengers by distance traveled.

Total revenue rose 7.3 percent to C$994.4 million.

WestJet also raised its quarterly dividend to 14 Canadian cents per share from 12 Canadian cents. ($1 = C$1.25) (Reporting by Anannya Pramanick in Bengaluru; Editing by Kirti Pandey)