Nearly a week after launching ticket sales for its ultra-low-cost carrier Swoop, WestJet Airlines Ltd. says it hasn"™t lost business at its main airline, suggesting it has found a new market of infrequent flyers.
"Clearly what we"™re seeing is that Canadians like low fares," Ed Sims, executive vice-president, commercial, told a conference call with financial analysts Tuesday to discuss the airline"™s fourth-quarter results.
"It"™s been six days since we went on sale. We"™re tracking Swoop"™s growth on an hourly basis and we"™re seeing no signs of cannibalization (of WestJet ticket sales)."
WestJet matched analyst expectations by posting earnings of $48.5 million or 42 cents per diluted share for the last three months of 2017, down from a profit of $55.2 million or 47 cents per diluted share a year earlier, as costs rose, particularly for fuel.
Revenue totalled nearly $1.12 billion, up from nearly $1.02 billion in the fourth quarter of 2016…
