Estimated reading time 2 minutes, 6 seconds.
WestJet has announced 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 US$586 million as of Jan. 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 US$2.8 billion.
“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.
