Image: Darryl Dyck/Canadian Press

WestJet posts $20.8 million loss amid labour dispute, higher fuel prices

WestJet’s second quarter losses amounted to 18 cents per share.

WestJet Airlines Ltd. reported a rare loss of $20.8 million in the second quarter as it was beset by a labour dispute with its pilots, higher fuel prices and increased competition.

The loss amounted to 18 cents per share, which was better than analyst estimates, but down from a year-earlier profit of $48.6 million or 41 cents per share.

Analysts had estimated WestJet would have a net loss of 27 cents per share and an adjusted loss of 28 cents per share, according to Thomson Reuters Eikon.

WestJet’s revenue was estimated at $1.1 billion but came in below that at $1.09 billion, up 2.8 per cent from $1.06 billion in last year’s second quarter.

The company avoided a strike by its pilots by agreeing to a mediated settlement process in May but uncertainty about the outcome of their dispute had a negative effect on WestJet’s bookings.

In addition, the cost of fuel was up 30.6 per cent year-over-year — similar to an increase reported last week by Air Canada.

Related: WestJet pilot strike averted as parties agree to mediation

Related: WestJet fare break for fire victims

Companies in this story: (TSX:WJA TSX:AC)

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Missing Chilliwack man not heard from since January

Kristopher Shawn Couture, 25, last made contact with family from Edmonton

Chilliwack city council won’t reconsider cannabis retail applicant’s rejected pot shop

Reconsideration motion for proposed pot shop on Promontory defeated in three-to-three vote

Two week lock down lifted for Kent Institution

A search at the prison found nearly 26 grams of hashish and a cellphone

Chilliwack city council sides with seniors against five-storey apartment project

Developer sent back to the drawing board over concerns about sun-blocking building downtown

Harrison Hot Springs to partner with Sts’ailes for reconciliation event

The event will be funded by a grant meant to build dialogue between cities and local First Nations

Kelowna toddler suffers cracked skull after fall from balcony

Neighbour who found the two-year-old boy said he has a bump the size of a golf ball on his head

Pipeline protester chimes in on Justin Trudeau’s B.C. fundraising speech

The government purchased the Trans Mountain pipeline and expansion project for $4.5 billion

Canada stripping citizenship from Chinese man over alleged marriage fraud

The move comes amid severely strained relations between Ottawa and Beijing

Nevada court orders former Vancouver man to pay back $21.7 million to investors

The commission says Michael Lathigee committed fraud over a decade ago

Support growing for orphaned Okanagan child after father dies in highway crash

Family thanks emergency crews for assistance in traumatic incident

UBC prof says report citing $89B home equity loss a ‘grassroots movement of the rich’

Report says longtime homeowners are being taxed out of their homes by the NDP

RCMP target speeders between Abbotsford and Surrey in month-long blitz

Officers throughout the province launch Swoop campaign

Baby boom seniors putting pressure on B.C. long-term care: report

B.C. leads Canada in growth of dementia, dependence on care

RCMP probe if teen was intentionally hit with ski pole by mystery skier on B.C. mountain

The incident happened on March 20 on Grouse Mountain. Police are urging witnesses to come forward

Most Read