WestJet’s load factor hit record 81.2 per cent in October; Porter’s numbers fall

WestJet Airlines flights flew 81.2 per cent full in October — the fourth month in a row of record high load factors for the Calgary-based company.

Traffic increased 5.9 per cent from last year while capacity grew 0.9 per cent.

WestJet said it flew 113,000 more passengers in October than a year ago.

“We are very pleased with the October results which easily outpaced the previous October load factor record of 78.1 per cent set in 2007,” stated CEO Gregg Saretsky.

The load factor was up from 77.4 per cent in October 2011.

“Forward bookings remain healthy and momentum continues at WestJet…”

Year-to-date, WestJet’s load factor is up by more than three per cent to 82.9 per cent. Traffic is up 8.2 per cent on a 4.2 per cent increase in available seat miles.

Cameron Doerksen of National Bank Financial said WestJet’s traffic numbers is a “a clear indication that air travel demand remains very healthy so far in the fourth quarter.”

WestJet (TSX:WJA) will report its third-quarter results on Wednesday, followed a day later by Air Canada (TSX:AC.B) which was expected to release its traffic numbers later Monday.

“The record October traffic reinforces our positive outlook for WestJet,” Doerksen wrote in a research note.

Porter Airlines, which flies turboprop planes on regular scheduled flights in competition with the other airlines, reported that its load factor dropped 8.3 points from last year to 59.4 per cent.

The privately owned regional carrier based in Toronto said its traffic or revenue passenger miles grew 5.5 per cent while its capacity shrunk 7.5 per cent.

“We are currently focusing on maintaining higher yields, so the change in load factor is expected with this approach,” stated CEO Robert Deluce.

He added that hurricane Sandy has affected the airline’s service to key markets, especially Newark, N.J., in November, but noted that Porter has resumed regular service to all airports.

Based at Toronto’s Billy Bishop Toronto City Airport, Porter flies to cities in Ontario, Quebec and Atlantic Canada as well as a handful of destinations in the United States.

On the Toronto Stock Exchange, WestJet’s shares approached a 52-week high, gaining 24 cents at $18.05 in morning trading.