Canada's WestJet reported a CAD$48.2 million first quarter profit

, up from a CAD$2.4 million profit reported for the same quarter last year. Unit passenger revenue grew 12 percent, which the carrier attributed largely to yield growth of nearly 12 percent year over year. Calling the results "better than expected," RBC Dominion Securities airline analyst Walter Spracklin in a research note claimed WestJet successfully "is offsetting rising fuel prices with higher fares."