Canada's WestJet beats profit on sale-leaseback deal

WestJet Airlines beat analysts’ estimates for quarterly profit on Tuesday, helped by higher traffic and proceeds from a sale-leaseback deal for three aircraft, but the Canadian carrier still faces the impact of the global grounding of the 737 MAX. WestJet, which operated 13 MAX planes, is eying a return of the Boeing jets to service during Q3. The jets were grounded worldwide in March following two deadly crashes involving the model. WestJet CE Ed Sims said the company would be “firm and uncompromising with Boeing in terms of their understanding of the challenges that it has created for us,” at its annual general meeting in Calgary. “But it is also a time for understanding of their challenges and to work with them (Boeing) to turn a short-term crisis into the best possible opportunity for us longer term.” While the carrier would not provide a 2019 financial forecast, CFO Harry Taylor told analysts earlier in the day that cost per available seat mile would be affected during Q2 because of the grounding. Canada’s second-largest carrier has been adding international flights and wooing affluent travelers to boost profit.<br/>