WESTJET AIRLINES $13.95 - Toronto symbol WJA

WESTJET AIRLINES $13.95 (Toronto symbol WJA; TSINetwork Rating: Extra Risk) (1-877-493-7853; www.westjet.com; Shares outstanding: 130.8 million; Market cap: $1.8 billion; Dividend yield: 1.7%) reports that its revenue rose 12.9% in the three months ended December 31, 2011, to $781.5 million from $692.2 million a year earlier.

Demand for the company’s flights remains high, and it has entered into new partnerships with other airlines; these were the main reasons for the higher revenue.

Earnings fell 4.3%, to $35.6 million from $37.2 million. Higher fuel prices were the main reason for the decline. However, earnings per share were unchanged at $0.26, due to fewer shares outstanding. The company has also raised its quarterly dividend by 20%, to $0.06 from $0.05. The shares now yield 1.7%.

WestJet has now decided to go ahead with its plan to launch a new short-haul Canadian regional airline. That would let it feed more customers into its international routes and better serve its frequent-flying business clients. The company aims to start up the new airline by the end of 2013.

WestJet is still a buy.

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