VANCOUVER (Reuters) - WestJet Airlines Ltd will not announce any more code-share agreements this year, a company executive said yesterday, after the carrier struck its first, long-awaited deal this weekend.

Even though such partnership agreements are a key part of its revenue growth strategy, WestJet said additional deal would put undue strain on staff during the busy Christmas season when winter storms often also play havoc with air travel.

"I would not turn on another code-share until after the new year is completed," Hugh Dunleavy, WestJet's executive vice-president of strategy and planning, said a day after the airline announced its agreement with Cathay Pacific Airways Ltd.

Code sharing is the practice where airlines sell space on each other's flights. It can help to boost revenues as airlines can offer passengers more destinations while keeping a lid on costs as they don't have to service all the places themselves. In WestJet's case, code-share agreements are a central part of its plans to make deeper inroads into the market for business travellers, for whom the ability to connect easily to many destinations is key.

WestJet, Canada's second-biggest airline, has recently started to expand from its low-budget roots and begun targeting the business market as it looks for new avenues for revenue and profit.

The deal with Hong Kong's dominant carrier is not a surprise as WestJet already had an "interline" agreement — a watered-down version of a code-share — with Cathay Pacific.

WestJet has a similar partnership with Air France-KLM , making it a likely candidate for a full code-share. Analysts also expect a deal with a U.S. carrier, possibly Delta Air Lines Inc.

"Overall, with these three anticipated code-shares (covering Europe, Asia and the U.S) the airline's target market and value proposal should be greatly enhanced, thus improving WestJet's competitive advantage," Paradigm Capital analyst Corey Hammill said in a note to clients.