WestJet
TSX : WJA

WestJet

October 30, 2006 08:30 ET

WestJet Finalizes Term Sheet for an Additional Five Aircraft

CALGARY, ALBERTA--(CCNMatthews - Oct. 30, 2006) - WestJet (TSX:WJA) today announced that it has finalized a term sheet with Singapore Aircraft Leasing Enterprise (SALE) for five Boeing Next-Generation 737 aircraft to be delivered in 2009. Details of the agreement include four 700-series aircraft scheduled for delivery in January, May, June and October 2009 respectively and one 800-series aircraft to be delivered in May 2009.

The agreement also provides WestJet with the ability to secure an additional three 700-series and one 800-series aircraft in 2009. The 700-series may be converted to 800-series at WestJet's option. Finalization of the transaction is subject to a number of conditions.

"One of our continued strategic drivers is ASM growth through fleet expansion," said Sean Durfy, President. "Having recently announced our most profitable quarter in history with increases in capacity, load factor and yield, we are confident the demand for WestJet's service in the domestic, transborder and international Caribbean markets will support the addition of these aircraft."

WestJet currently has a registered fleet of 62 aircraft, with committed deliveries scheduled for the remainder of 2006 through to 2009. By the end of 2009, WestJet will have a registered fleet of 81 aircraft.

Marking its tenth anniversary this year, WestJet is Canada's leading low-fare airline offering scheduled service throughout its 35-city North American and Caribbean network. Named Canada's most admired corporate culture in 2006, WestJet pioneered low-cost high-value flying in Canada. With increased legroom and leather seats on its modern fleet of Boeing Next-Generation 737 aircraft, and live seatback television provided by Bell ExpressVu on the majority of its fleet, WestJet strives to be the number one choice for travellers.

Contact Information

  • WestJet
    Media Relations
    Gillian Bentley
    (403) 444-2615
    Website: www.westjet.com