CORRECTED-Canada's WestJet reports 38 pct fall in profit

Tue May 3, 2016 6:56am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Corrects paragraph 2 to say earnings fell, not rose)

May 3 (Reuters) - Canada's WestJet Airlines Ltd reported a nearly 38 percent fall in quarterly profit as expenses rose at a time of economic weakness in oil-producing Alberta, where the airline mostly operates.

The company's net earnings fell to C$87.6 million ($69.9 million), or 71 Canadian cents per share, in the first quarter ended March 31, from C$140.7 million, or C$1.09 per share, a year earlier.

Revenue fell 4.8 percent to C$1.03 billion. ($1 = 1.2537 Canadian dollars) (Reporting by Manish Parashar in Bengaluru; Editing by Maju Samuel)