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

Oil and Gas researcher Vivian Krause to speak in Lacombe

UCP fundraiser brings in researcher claiming to expose dirty American lobby money in Canada

MNP Canada Games Torch Relay coming to Lacombe

Torchbearers will carry the torch on a 4.64 km loop around Cranna Lake

Eagles soar over Lacombe Generals in 4-3 OT win

Generals will look for revenge on Wednesday at home against Innisfail

Blackfalds moves forward with seniors housing project

Public engagement meeting requests applications for plus-55 housing development

2-for-1: Total lunar eclipse comes with supermoon bonus

On Sunday night, the moon, Earth and sun lined up to create the eclipse, which was visible throughout North and South America

Jason Kenney disputes expense allegations while MP

Questions over his residential expense claims from his time as a cabinet minister in Ottawa

Anti-pipeline group wants NEB to consider impact of emissions, climate change

Stand.earth filed NEB motion asking to apply same standard to the project as it did with Energy East pipeline

Teen in confrontation with Native American: I didn’t provoke

Nick Sandmann of Covington Catholic High School said he was trying to defuse the situation

Kamala Harris opens U.S. presidential bid in challenge to Trump

The 54-year old portrayed herself as a fighter for justice, decency and equality in a video distributed by her campaign

Woman offers luxury Alberta home for just $25 and a flair for the written word

Alla Wagner ran into health problems, which forced her to list the 5,000-square-foot estate at market value

46% of Canadians $200 or less away from financial insolvency: poll

45% cent of those surveyed say they will need to go further into debt to pay their living and family expenses

World economy forecast to slow in 2019 amid trade tensions

For Canada, the IMF’s estimate for growth in 2019 was 1.9 per cent, down from expected global growth of 3.5 per cent

Most Read