WestJet CEO concedes 2Q2018 results were disappointing but longterm strategy in ‘right direction’

    WestJet president and CEO Ed Sim stated results in 2Q2018 were “disappointing” and “off track”, noting the airline is “now operating in a very different fuel and competitive environment” (Canadian Press/Reuters/CNBC, 31-Jul-2018). Mr Sims said WestJet has to be aggressive in recovering passengers who otherwise would have booked away or with competitors, competing with an “almost unprecedented level of peak season capacity”. WestJet will “start rebuilding from today”, Mr Sims said, following routes “where we know there’s high demand for low fares”. WestJet continues to see the symptoms of oversupply in the domestic market, which is “fully offsetting the relative demand strength”. Mr Sims said the airline believes its long term strategy is the “right direction”.