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Profit dipped to CAD$35.6 million, from CAD$37.2 million in the same period last year. Revenue increased nearly 13 percent to CAD$781.5 million. Fourth-quarter costs per available seat mile rose 8.3 percent, but those costs increased just 2.7 percent once fuel and profit share expenses were stripped out.

WestJet forecast 2012 costs per available seat mile, excluding fuel and employee profit sharing, to be unchanged to up to 1 percent higher year-over year. Fourth-quarter RASM, an industry measure that compares revenue performance among airlines grew 6.4 percent, reflecting higher ticket prices and a slightly higher load factor, Doerksen said in a note. The company said persistent economic uncertainty had not hurt its forward bookings. In the first quarter of 2012 it expects modest RASM growth, with a further 8 to 9 percent expansion in capacity. (Westjet)