Across all metrics, the company has seen consistent growth in recent years. Total revenue has increased year on year since 2013, and grew by almost 30 percent to reach 4.73 billion Canadian dollars in 2018. Also over this time, WestJet’s number of employees increased by 45 percent to 11,624, their number of passengers carried increased by 25.5 percent to 25.5 million, their revenue passenger miles increased by just over 40 percent to almost 27.6 billion and their available seat miles increased by around 37.5 percent to 33 billion. In each of these cases there has been year-on-year growth for each year over the period. The only metric not to improve year-on-year is their passenger load factor, which saw a slight decline in the years following 2012. However, this started increasing from 2015, and in 2018 stood at 83.8 percent, above the previous high of 82.8 percent in 2012.
WestJet’s primary competitor in the Canadian market is Air Canada, who held a 46 percent share of the domestic market in 2018. In 2017, Air Canada carried around 48.1 million passengers compared to around 25.5 million passengers carried by WestJet. Air Canada’s revenue is significantly higher than this difference in passengers would suggest, totaling 16.2 billion Canadian dollars in 2017. Looking at the regional and global levels, while WestJet was the eight-largest low-cost airline by revenue worldwide in 2017; they were only the tenth largest airline group in North America once full-service and freight airlines are included. These figures demonstrate that the capacity of full service providers to generate revenue is much higher than that of low-cost carriers, and it is in this context that WestJet’s goal to rebrand as a full service provider can be understood.