WESTJET AIRLINES $26.90 - Toronto symbol WJA

WESTJET AIRLINES $26.90 (Toronto symbol WJA; TSINetwork Rating: Extra Risk)(1- 877-493-7853; www.westjet.com; Shares outstanding: 127.8 million; Market cap: $3.5 billion; Dividend yield: 1.8%) continues to benefit as lower oil prices cut its fuel costs. Fuel typically accounts for a third of the airline’s operating expenses.

In the three months ended March 31, 2015, WestJet’s earnings per share gained 58.0%, to $1.09 from $0.69. Revenue rose 4.0%, to $1.08 billion from $1.04 billion.

The company’s load factor fell to 81.6% from 83.1% (load factor is the percentage of available seats occupied by paying passengers). However, revenue from other sources jumped 63.9% after WestJet began charging a $25 fee for each checked bag on its domestic and U.S.-bound routes in the fourth quarter of 2014. It also added new planes to its fleet, increasing its capacity by 4.7%.

WestJet is a buy.

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