WestJet Awarded AA Brand Rating
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 US$629 million as of Jan. 1.
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 US$3 billion. The 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.”
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.
