CALGARY – WestJet today announced third quarter results for 2009. The airline reported net earnings of $31.4 million or 24 cents per diluted share; this compared to the third quarter of 2008 net earnings of $57.9 million or 45 cents per diluted share.

“We are extremely happy to have once again turned a difficult economic period into another profitable quarter,” said WestJet President and CEO Sean Durfy. “For more than a year now, economic instability has been eroding consumer confidence. The third quarter saw continued scrutiny from price-sensitive Canadians, resulting in airlines stimulating demand through aggressive pricing. Regardless, we believe we will produce margins that are among the best in North America. Our success this quarter, and every quarter, is a direct result of the efforts and abilities of WestJetters who are committed to ensuring guests receive the best value for their hard-earned dollars.”

WestJet reported an operating margin of 12.8 per cent, compared to 14.0 per cent in the third quarter of 2008. WestJet’s third quarter 2009 pre-tax margin was 8.3 per cent, compared to 11.5 per cent in the same 2008 period.

“Relief from significantly lower fuel costs, compared to the same period in 2008, considerably off-set our drop in revenue,” added Sean Durfy. “Our ability to successfully stimulate demand while keeping our controllable costs in line played an important part in our strong margins.”