The same uniquely Canadian cost challenges will continue, while the economy is weakening and higher interest rates are catching up to all of us, but we built considerable momentum as we head into the new year,” von Hoensbroech wrote, saying that WestJet will continue to grow, both in aircraft and in talent.
This year was also “uniquely positive” in that WestJet had market momentum on its side, he said.
“Coming out of the pandemic, Canadians were ready to travel, and this pent-up demand resulted in one of the best economic environments for airlines that I have ever seen,” von Hoensbroech wrote.
Building momentum
While 2023 was a favourable environment that paved the way to a return to profitability, WestJet remained “cautiously optimistic on our outlook for 2024,” von Hoensbroech said
How it works is that a portion of profit gets distributed among WestJetters in recognition of their contributions.
von Hoensbroech said WestJet’s success this year is owed to having a “strong and sustainable business model, fine-tuned to meet the needs of Canadian travellers.”