WestJet agrees on terms for five new planes in 2009
October 30, 2006
CALGARY, Alberta, Oct 30 (Reuters) - WestJet Airlines Ltd said on Monday it has agreed to lease terms on the delivery of five new Boeing 737 aircraft with Singapore Aircraft Leasing Enterprise, part of a plan to expand its fleet 30 percent by the end of 2009.
Calgary-based WestJet, Canada's No. 2 airline, said the deal lets it acquire four 136-passenger 737-700 aircraft and one 166-passenger 737-800. The planes are to be delivered during 2009.
The company, which competes with larger rival Air Canada for domestic travelers, said its deal with the leasing firm also gives it the option to acquire three more 700-series and one 800 series in 2009. The 700-series aircraft can be switched to 800-series planes if the carrier wishes.
Terms for the agreement were not released.
WestJet, which last week reported a record quarterly profit of C$52.8 million ($48 million), plans to have a fleet of 81 aircraft by the end of 2009, all 737s, up from a current total of 62.
Singapore Airlines Ltd. and WestLB AG are the largest partners in Singapore Aircraft Leasing, according to its Web site, with each holding a 35.5 percent share.