WestJet announced its fourth-quarter profit yesterday. and the airline continues to show remarkably strong growth and a share price that keeps headed north, closing yesterday on the TSX at $$22.55. The share price has almost doubled in the past year. Here’s a chart. Amazing recent performance.
Oh, here is my standard boiler plate when I write about WestJet: I used to work for them and have a definite bias in favour.
But rival Air Canada is doing well, too. Although its stock price is much lower compared to WestJet’s, it, too, has nearly doubled in price, closing yesterday at $2.44. Late last March it was as low as 79 cents.
What’s intriguing is that although the share prices of the two airlines differ greatly, their increase on a percentage basis has been somewhat uniform. Here’s an overlay (below) of the two. WestJet is in blue, Air Canada in green.
Still waiting to hear from WestJet about the initial routes for their new regional, Encore. The announcement was to have been made at the end of the January but for some reason has been delayed. In a tweet yesterday, WestJet said:
So. We’ll just have to stand by.