Airline awarded AA brand rating
CALGARY, March 2, 2015 /CNW/ - WestJet announced today that Brand Finance, one of the world's leading brand valuation consultancies, has once again ranked WestJet in the top 100 Canadian brands with a valuation of $629 million USD as of January 1, 2015. The airline's enterprise value, which is the combined market value of the equity and debt of a business less cash and cash equivalents, is pegged at more than $3 billion USD. Today's announcement moves WestJet seven spots up the ranking from last year to 67.
"We are pleased to see we are once again ranked as one of Canada's most-valued brands," said Bob Cummings, WestJet Executive Vice-President, Sales, Marketing and Guest Experience. "A strong brand value translates into benefits for our guests, our shareholders and our WestJetters. With respect to our guests, a strong brand means our strong fundamentals -- based on our cost structure and our people -- delivers superior value for price paid. Shareholders, who've watched the price of WestJet shares more than double since January 1, 2011, have also seen outstanding value. Finally, for WestJetters, there is enormous pride in working for an enviable brand and a company that is in a strong position to introduce new products and grow into new markets. I would like to thank our more than 10,000 committed and dedicated WestJetters, as well as our loyal guests who have supported us for the past 19 years."
Brand Finance calculates brand value by determining the royalties a corporation would have to pay to license its brand if it did not own it. Similar to a credit rating, brands are also assigned a rating from AAA+ to D according to strength, risk and potential of a brand relative to its competitors. Brand Finance is a London, England-based brand valuation consultancy, with offices in more than 15 countries. More information is available at brandfinance.com and brandirectory.com.
We are proud to be Canada's most-preferred airline, powered by an award-winning culture of care and recognized as one of the country's top employers. We offer scheduled service to more than 85 destinations in North America, Central America, the Caribbean and Europe. Through our regional airline, WestJet Encore, and with partnerships with airlines representing every major region of the world, we offer our guests more than 120 destinations in more than 20 countries. Leveraging WestJet's extensive network, flight schedule and remarkable guest experience, WestJet Vacations delivers affordable, flexible travel experiences with a variety of accommodation options for every guest. Members of our WestJet Rewards program earn WestJet dollars on flights, vacation packages and more. Our members use WestJet dollars towards the purchase of WestJet flights and vacations packages on any day, at any time, to any WestJet destination with no blackout periods -- even on seat sales. For more information about everything WestJet, please visit www.westjet.com.
Recent recognition includes:
2015/2014 Top 100 Canadian Brands (Brand Finance)
2014 Value Airline of the Year (Air Transport World magazine)
2013 Gold Stevie Award Best Transportation Company (American Business Awards) 2013 Chairman's Circle Award: WestJet Vacations (CPSC)
2013 Canada's Most Preferred Airline (Leger Marketing)
2013/2012 Canada's Most Attractive Employer (Randstad)
2013 WestJet RBC MasterCard ranked #1 in Canada (Money Sense magazine)
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