Oil and jet fuel prices climbed to four-year highs in October, though fell sharply afterward, according to the International Air Transport Association.

WestJet airlines reported lower quarterly profits as compared to the same time last year.

The Calgary-based airline said there was continued downward pressure on its fares as a result of the severe economic downturn in the energy sector in Alberta and Saskatchewan, contributing to a decline in its operating margin to 6.5 per cent from 10.7 per cent last year.