WestJet fills top post

Article Excerpt

WESTJET AIRLINES $24.36 (Toronto symbol WJA; TSINetwork Rating: Extra Risk) (1-877-493-7853; www.westjet.com; Shares o/s: 123.3 million; Market cap: $2.8 billion; Dividend yield: 2.3%) now has a new CEO after the recent and unexpected resignation of Gregg Saretsky. In his place, the company has appointed executive vice-president of commercial operations Ed Sims as the new CEO. The sudden change adds to WestJet’s risk—especially with its ongoing labour negotiations and the upcoming launch of its ultra-low-cost carrier Swoop. However, Mr. Sims has over 30 years of experience in the tourism and aviation industries. Meantime, WestJet carried a record 1.9 million passengers in February 2018. That’s up 6.5% from 1.78 million a year earlier. WestJet is still a buy. buy…