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

Tommy Chong says cannabis legalization makes him proud to be a Canadian

Legendary marijuana advocate and comedian celebrates cultural milestone at Kelowna event

Ocean “Blob” returns to North Coast of B.C.

A 2,000 kilometre patch of warm ocean water could signal a warm winter in Prince Rupert

‘Police are ready’ for legal pot, say Canadian chiefs

But Canadians won’t see major policing changes as pot becomes legal

VIDEO: This is what buying legal pot in B.C. looks like

Take a look inside B.C.’s first and only legal pot shop located in Kamloops

Singer k.d. lang receives Alberta’s highest honour

Celebrated singer-songwriter k.d. lang received the Alberta Order of Excellence in Edmonton

B.C. tickets win big in Lotto Max draw

Jackpot carried over; B.C. tickets share Max Millions prizes

‘Mom, I’m in trouble:’ Canadian faces 10 years for alleged graffiti

Brittney Schneider, another tourist caught spraying message on walls of Tha Pae Gate in Thailand

Feds consulting on national anti-racism strategy behind closed doors

Heritage Minister Pablo Rodriguez says people still face systemic racism in some communities

Enbridge aims for mid-November to finish B.C. pipeline repair after blast

A natural gas pipeline that ruptured and burned near Prince George caused an explosion and fireball

How to get government cheques if Canada Post staff go on strike

The Canadian Union of Postal Workers said members could go on rotating strikes as early as Monday

Anti-SOGI school trustee files defamation lawsuit against BCTF president

Barry Neufeld says Glen Hansman’s words caused him “indignity,” “personal harassment,” and “anxiety”

Ocean ‘blob’ returns to B.C.’s North Coast

A 2,000 kilometre patch of warm ocean water could signal a warm winter in Prince Rupert

Most Read