WestJet, TSX : WJA, is Canada's leading high-value low-cost airline offering scheduled service throughout its 55-city North American and Caribbean network.

Total registered fleet: 76, Boeing Next-Generation 737

A Westjet Boeing "Next-Generation" 737 - 800, equipped with blended winglets

Named one of Canada's most admired corporate cultures in 2005, 2006, 2007 and 2008, WestJet pioneered low-cost flying in Canada.

WestJet offers increased legroom and leather seats on its modern fleet of 76 Boeing Next-Generation 737 aircraft and live seatback television provided by Bell ExpressVu. With future confirmed deliveries for an additional 45 aircraft, bringing its fleet to 121 by 2013.

Our vision:

By 2016, WestJet will be one of the five most successful international airlines in the world providing our guests with a friendly and caring experience that will change air travel forever

Overview Q3 2008

In the third quarter of 2008, we continued our profitability and strong financial results despite volatile and elevated fuel prices combined with tumultuous conditions in the financial and credit markets.

The strength of our balance sheet, positive net earnings and cash flows from operations position us well in this period of economic uncertainty.

During the third quarter, we gained market share, substantially increased RPMs and lowered CASM, excluding fuel and employee profit t share.

Despite a weakening economic climate, we flew 8.5 per cent more guests, largely due to the exceptional guest experience provided by our WestJetters.

For the third quarter of 2008, our financial results are among the best in the North American airline industry.

Quarterly Highlights - Q3 2008

• Increased total revenues to $718.4 million for the three months ended September 30, 2008, an increase of 18.5 per cent over the same period of 2007.
• Recorded RASM of 15.78 cents in the third quarter of 2008, down from 16.00 cents in the same period of 2007, while growing capacity by 20.1 per cent.
• Decreased CASM, excluding fuel and employee profit share, by 4.7 per cent to 8.04 cents for the third quarter of 2008 compared to 8.44 cents in the third quarter of 2007.
• Recorded an earnings before tax margin of 11.0 per cent for the quarter ended September 30, 2008, down 7.4 points from the same period of 2007.
• Realized net earnings of $54.7 million in the third quarter of 2008, down from $76.1 million in the same period of 2007.
• Diluted earnings per share decreased to $0.42 in the third quarter of 2008 from $0.58 in the same quarter of 2007, a change of 27.6 per cent.
• Assumed delivery of one new owned aircraft, increasing our total registered fleet to 76.
• Generated cash flows from operations of $77.3 million for the quarter ended September 30, 2008, down from $156.0 million in the same period of 2007.

Our Fleet

WestJet operates the most modern fleet in North America, of any large commercial airline, comprised of 76 Boeing Next-Generation 737 aircraft equipped with more legroom, leather seats and live seatback television. WestJet's fleet includes the Boeing Next-Generation 737-600, 737-700 and 737-800.

Both the 737-700 and 737-800 series aircraft are all equipped with blended winglets. Blended Winglet Technology by Aviation Partners Boeing improves the aerodynamic performance and handling characteristics of the 737 while boosting range and reducing fuel burn by up to four per cent.

Stock splits

WestJet stock has split three times. The first three-for-two split took place on May 10, 2000, as approved by WestJet shareholders on May 4, 2000. The second three-for-two split occurred on May 1, 2002, as approved by shareholders on April 25, 2002. The third three-for-two split occurred on May 5, 2004 as approved by shareholders on April 28,2004.