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Canada's WestJet posts 45 pct fall in 1st-qtr profit

May 2 Canada's WestJet Airlines Ltd on Tuesday reported a 45 percent fall in quarterly profit, as higher fuel costs squeezed margins.

The company's net earnings fell to C$48.3 million ($35.4 million), or 41 Canadian cents per share in the first quarter ended March 31, from C$87.6 million, or 71 Canadian cents per share, a year earlier.

Revenue rose 8 percent to C$1.11 billion.

WestJet, Canada's second largest carrier, also said it agreed to buy up to 20 787-9 Dreamliner aircraft from Boeing Co . ($1 = 1.3660 Canadian dollars) (Reporting by John Benny in Bengaluru; Editing by Sai Sachin Ravikumar)

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