WestJet reported first-quarter net profits of C$89.3m ($81m), down 2% from the same period last year which set a record. This is WestJet’s 36th consecutive quarter in the black and the seventh straight quarter it has exceeded its 12% return on invested capital (ROIC) target. WestJet’s ROIC for the 12 months to March 31 was 13.7%. WestJet’s first-quarter revenue was up 7.7% year on year to C$1.04bn, but expenses increased 9.1% to C$910.5m, producing an operating profit of C$131.6m, down 0.6% year on year. Passenger traffic increased 6.4% to 5.42bn RPMs on an 8% increase in capacity to 6.52 billion

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