July 31, 2018 / 3:00 PM / 2 months ago

BUZZ-WestJet Airlines: Nosedives on higher costs, weak RASM outlook

** Shares of Canada’s second largest airline fall as much as 12.3 pct to C$17.50; biggest pct loss in more than 15 and a half years

** Co’s fuel expenses rise 34.4 pct to C$302.3 mln, overall expenses up 13.8 pct

** RASM, a measure of efficiency for the company, falls 1.9 pct

** RASM weakness highlights domestic market weakness - say Cormark Securities analysts, adding that co’s Q3 RASM outlook of 4-6 pct is “surprisingly weak”

** CEO Ed Sims says co sees symptoms of ‘oversupply’ in domestic market for air travel

** So far this year stock has fallen ~32 pct this year; bigger rival Air Canada has risen ~7 pct in the same period (Reporting by Anirban Paul)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below