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WestJet Airlines Ltd (WJA.TO)

WJA.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Onex - Westjet To Be Acquired By Co At a Transaction Value of $5 bln Including Debt
Monday, 13 May 2019 08:02am EDT 

May 13 (Reuters) - Onex Corp ::WESTJET TO BE ACQUIRED BY ONEX.ONEX CORP - DEAL FOR $31.00 PER SHARE.ONEX CORP - TRANSACTION VALUE IS APPROXIMATELY $5 BILLION INCLUDING ASSUMED DEBT..ONEX CORP - INVESTMENT WILL BE LED BY ONEX PARTNERS, ONEX' PRIVATE EQUITY PLATFORM FOCUSED ON LARGER INVESTMENT OPPORTUNITIES.ONEX CORP - DEAL IS AN ALL-CASH TRANSACTION..ONEX - WESTJET IS PERMITTED TO CONTINUE PAYING ITS REGULAR QUARTERLY CASH DIVIDEND CONSISTENT WITH ITS DIVIDEND POLICY AND PAST PRACTICE UNTIL CLOSING.ONEX - PURCHASE PRICE REPRESENTS A 67% PREMIUM TO FRIDAY'S CLOSING SHARE PRICE AND 63% PREMIUM TO WESTJET'S 20-DAY VOLUME-WEIGHTED AVERAGE TRADING PRICE.ONEX CORP - WESTJET WILL OPERATE AS A PRIVATELY-HELD COMPANY AFTER COMPLETION OF DEAL.ONEX CORP - WESTJET WILL REMAIN HEADQUARTERED IN CALGARY.ONEX CORP - FOLLOWING AN APPROACH BY ONEX IN MARCH 2019, WESTJET BOARD OF DIRECTORS FORMED A SPECIAL COMMITTEE OF INDEPENDENT DIRECTORS.ONEX - AFTER EXTENSIVE REVIEW OF PROPOSED DEAL, WESTJET SPECIAL COMMITTEE PROVIDED UNANIMOUS RECOMMENDATION OF TRANSACTION TO WESTJET BOARD.ONEX CORP - WESTJET HAS AGREED TO PAY A FEE TO PURCHASER UPON TERMINATION OF AGREEMENT IN CERTAIN CIRCUMSTANCES.ONEX CORP - PURCHASER HAS AGREED TO PAY A FEE TO WESTJET, IF PURCHASER IS NOT IN A POSITION TO FUND CLOSING OF TRANSACTION..ONEX CORP - ADDITIONAL ADVISORY AND FINANCING FOR DEAL PROVIDED BY MORGAN STANLEY AND RBC CAPITAL MARKETS..ONEX CORP - ALL AMOUNTS IN CANADIAN DOLLARS UNLESS OTHERWISE STATED.  Full Article

WestJet And WestJet Encore Flight Dispatchers Reach Tentative Agreements
Tuesday, 7 May 2019 11:09am EDT 

May 7 (Reuters) - WestJet Airlines Ltd ::WESTJET AND WESTJET ENCORE FLIGHT DISPATCHERS REACH TENTATIVE AGREEMENTS.WESTJET AIRLINES - TENTATIVE AGREEMENTS HAVE BEEN REACHED BETWEEN BOTH WESTJET & CANADIAN AIRLINE DISPATCHERS ASSOCIATION AND WESTJET ENCORE AND CALDA.  Full Article

Westjet Reports A 33.4% Increase In First Quarter Net Earnings
Tuesday, 7 May 2019 06:30am EDT 

WestJet Airlines Ltd ::WESTJET REPORTS A 33.4% INCREASE IN FIRST QUARTER NET EARNINGS.Q1 EARNINGS PER SHARE C$0.40.Q1 EARNINGS PER SHARE ESTIMATE C$0.30 -- REFINITIV IBES DATA.QTRLY TOTAL REVENUE $1,257.7 MILLION VERSUS $1,191.7 MILLION.QTRLY LOAD FACTOR 84.8% VERSUS 84.8%.QTRLY COST PER AVAILABLE SEAT MILE 14.16 CENTS VERSUS 14.08 CENTS.QTRLY ASMS 8.456 BILLIONS VERSUS 8.029 BILLIONS.QTRLY REVENUE PER AVAILABLE SEAT MILE 14.87 CENTS VERSUS 14.84 CENTS.SETS QUARTERLY CASH DIVIDEND OF C$0.14PER SHARE.QTRLY RPMS (REVENUE PASSENGER MILES) 7.168 BILLIONS VERSUS 6.810 BILLIONS.Q1 REVENUE VIEW C$1.28 BILLION -- REFINITIV IBES DATA.  Full Article

Westjet Statement On Certification Of Encore Cabin Crew
Friday, 3 May 2019 07:45pm EDT 

May 3 (Reuters) - WestJet Airlines Ltd ::WESTJET STATEMENT ON CERTIFICATION OF ENCORE CABIN CREW.WESTJET AIRLINES-RECEIVED CERTIFICATION ORDER FROM CANADA CONFIRMING CUPE AS CERTIFIED BARGAINING AGENT FOR WESTJET ENCORE CABIN CREW MEMBERS.CO WILL WORK JOINTLY WITH CUPE TO ENSURE THEY CONTINUE TO DELIVER ON CO'S STRATEGY.  Full Article

Westjet Issues Statement Regarding The Application For Certification Of Westjet Encore Cabin Crew
Friday, 12 Apr 2019 09:25pm EDT 

April 12 (Reuters) - WestJet Airlines Ltd ::WESTJET STATEMENT REGARDING THE APPLICATION FOR CERTIFICATION OF WESTJET ENCORE CABIN CREW."RESPECT INDIVIDUAL RIGHTS OF OUR EMPLOYEES TO CHOOSE THEIR REPRESENTATION".  Full Article

WestJet Ratifies Five-Year Agreement With AMES
Tuesday, 2 Apr 2019 01:53pm EDT 

April 2 (Reuters) - WestJet Airlines Ltd ::WESTJET RATIFIES FIVE-YEAR AGREEMENT WITH AMES.WESTJET AIRLINES LTD - 93 PER CENT OF AIRCRAFT MAINTENANCE ENGINEERS ASSOCIATION (AMEA) MEMBERS VOTED IN FAVOUR OF A FIVE-YEAR AGREEMENT.WESTJET AIRLINES LTD - AGREEMENT STARTS MAY 1, 2019.  Full Article

Westjet Suspends 2019 Financial Guidance In Light Of Boeing 737 Max Grounding
Monday, 18 Mar 2019 12:56pm EDT 

March 18 (Reuters) - WestJet Airlines Ltd ::WESTJET SUSPENDS 2019 FINANCIAL GUIDANCE IN LIGHT OF BOEING 737 MAX GROUNDING.IT IS SUSPENDING ALL 2019 FINANCIAL GUIDANCE PROVIDED ON DECEMBER 4, 2018 AND FEBRUARY 5, 2019.FOR REMAINDER OF Q1 WESTJET EXPECTS IT WILL BE ABLE TO PROTECT APPROXIMATELY 86 PER CENT OF GUESTS BOOKED ON MAX FLIGHTS.FINANCIAL GUIDANCE FOR EPS, ROIC AND CUMULATIVE FREE-CASH FLOW OVER PERIOD OF 2020-2022 REMAINS IN PLACE.FOR REST OF Q1, EXPECTS TO BE ABLE TO COVER ABOUT 75 PER CENT OF FLIGHTS THAT WERE INTENDED TO OPERATE ON MAX WITH OTHER AIRCRAFT."CONTINUES TO IMPLEMENT AND EXECUTE ITS CONTINGENCY PLAN TO MINIMIZE GUEST DISRUPTION AND ANY FINANCIAL IMPACT".  Full Article

Westjet Says Complies With Transport Canada Decision To Ground Boeing Max Fleet
Wednesday, 13 Mar 2019 12:46pm EDT 

March 13 (Reuters) - WestJet Airlines Ltd ::WESTJET COMPLIES WITH TRANSPORT CANADA DECISION TO GROUND BOEING MAX FLEET.DECISION HAS AN IMPACT ON TRAVEL PLANS OF CO'S WESTJET GUESTS.WESTJET HAS 162 AIRCRAFT OR MORE THAN 92 PER CENT OF ITS OVERALL FLEET THAT REMAIN IN SERVICE..WESTJET IS CONTACTING IMPACTED GUESTS TO ARRANGE FOR ALTERNATE TRAVEL PLANS..WORKING TO REBOOK ALL GUESTS AFFECTED AS QUICKLY AS POSSIBLE.IN PROCESS OF GROUNDING 13 MAX AIRCRAFT IN CO'S FLEET.  Full Article

Canada officials to brief media about Boeing 737 MAX 8 aircraft, still see no reason to ground planes - source
Tuesday, 12 Mar 2019 07:08pm EDT 

March 12 (Reuters) - WestJet Airlines Ltd ::CANADA TRANSPORT MINISTER MARC GARNEAU TO HOLD NEWS CONFERENCE ON WEDNESDAY TO DISCUSS BOEING 737 MAX 8 AIRCRAFT, AVIATION SAFETY AND SECURITY - STATEMENT.CANADA TRANSPORT MINISTER WILL GIVE UPDATE ABOUT WHAT OTTAWA KNOWS ABOUT BOEING 737 MAX 8 AIRCRAFT, OFFICIALS SEE NO REASON AT THIS TIME TO GROUND PLANES - GOVERNMENT SOURCE.  Full Article

WestJet Reports Feb Load Factor Of 87 Pct, Up 0.6 Pct
Friday, 8 Mar 2019 10:45am EST 

March 8 (Reuters) - WestJet Airlines Ltd ::WESTJET REPORTS RECORD FEBRUARY LOAD FACTOR OF 87.0 PER CENT.WESTJET AIRLINES LTD - FEB REVENUE PASSENGER MILES (RPMS), OR TRAFFIC, INCREASED 5.6 PER CENT YEAR OVER YEAR.WESTJET AIRLINES LTD - SAW AN ADDITIONAL 62,000 GUESTS IN FEBRUARY, A YEAR OVER YEAR INCREASE OF 3.2 PER CENT.WESTJET AIRLINES LTD - WHILE FEB CAPACITY, MEASURED IN AVAILABLE SEAT MILES (ASMS), GREW 4.9 PER CENT OVER SAME PERIOD.WESTJET AIRLINES LTD - ON FEBRUARY 20, 2019 WESTJET LAUNCHED ITS FIRST REVENUE FLIGHTS ON 787 DREAMLINER RECEIVED IN JANUARY.WESTJET AIRLINES LTD - ALSO TOOK DELIVERY OF SECOND DREAMLINER ON FEBRUARY 19.WESTJET AIRLINES LTD - AIRLINE WILL RECEIVE ITS THIRD 787 DREAMLINER AIRCRAFT IN MARCH.  Full Article

Air Canada to buy tour operator Transat in C$520 mln deal

May 16 Air Canada said on Thursday it will buy Canadian tour operator Transat A.T. Inc in an all-cash deal valued at C$520 million ($387.51 million) to create a Montreal-based global travel services company.