Airline assigned a brand rating of AA+
CALGARY, March 6, 2014 /CNW/ - WestJet announced today that Brand Finance, one of the world's leading brand valuation consultancies, has ranked WestJet 74th among the top 100 Canadian brands with a valuation of $586 million USD as of January 1, 2014. The valuation is noteworthy considering WestJet's enterprise value ̶ the combined market value of the equity and debt of a business less cash and cash equivalents ̶ is pegged at just under $2.8 billion USD.
"We are a top Canadian brand because we have focused on earning the support and loyalty of Canadians for over 18 years now," said Bob Cummings, WestJet Executive Vice-President, Sales, Marketing and Guest Experience. "WestJet has been recognized as a top Canadian brand several times from a consumer brand equity perspective. This valuation of our brand is a reflection of all of the key brand attributes that are important to us. Our brand DNA is built on friendly, caring and fun WestJetters in combination with the tremendous value we deliver to our guests in the form of safe and affordable air travel and vacation packages. Furthermore, our brand relevance and value to business travellers continues to increase."
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 over 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:
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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For further information:
Media Relations, 1-888-WJ-4-NEWS (1-888-954-6397), [email protected].