WestJet Airlines has reported a 138% cent increase in profits in the fourth quarter to $47.9 million, or 33 cents a share. Analysts were expecting 17 cents a share.
Revenue rose to $692.8 million, from $570 million a year earlier, and for the full year, net earnings were $136.7 million, up from $98.2 million in 2009. Revenue was $2.61 billion from $2.28 billion.
WestJet expects fuel costs to range from 82 cents to 84 cents per litre during the first quarter.
"Our controllable costs remain in check and we feel our low-cost structure and fuel efficient fleet have us well equipped to withstand fuel price volatility," president and CEO Gregg Saretsky said in a release.