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Enter Symbol
or Name
USA
CA



Air Canada
Symbol AC
Shares Issued 273,243,286
Close 2018-04-16 C$ 25.19
Market Cap C$ 6,882,998,374
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Globe says feeling heat, WestJet makes Swoop a priority

2018-04-17 07:49 ET - In the News

See In the News (C-WJA) WestJet Airlines Ltd

The Globe and Mail reports in its Tuesday edition that WestJet's new chief executive officer says that the airline must get its Swoop discount airline launched on time and tackle its cost structure to get ready for an onslaught of low-cost competition from new rivals. The Globe's Greg Keenan writes that the move by Kelowna-based Flair Airlines to increase its schedule to 208 flights in June -- as well as the potential takeover of Norwegian Air Shuttle ASA -- have "redoubled my enthusiasm and appetite for Swoop," said Mr. Sims. International Airlines Group (IAG), the owner of British Airways and Spain's Vueling, is already planning to fly to Canada later this year under its own long-haul discount carrier, known as Level. IAG recently bought 4.6 per cent of Norwegian, fuelling speculation about a takeover that would give the latter airline a financially strong parent to backstop its expansion plans. Norwegian has delayed plans to fly to Canada from Europe, originally scheduled to begin in July, to 2019. Meanwhile, Flair's expansion, a new economy-fare regime at Air Canada and an expansion of its low-cost Rouge network are increasing the competitive pressure. WestJet closed Monday at $22.83, up 26 cents.

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