WestJet ‘swoops’ in

Article Excerpt

WESTJET AIRLINES $27.45 (Toronto symbol WJA; TSINetwork Rating: Extra Risk) (1-877-493- 7853; www.westjet.com; Shares outstanding: 123.3 million; Market cap: $3.2 billion; Dividend yield: 2.0%) has now announced the official launch dates for its no-frills, low-cost airline. The discount carrier will be called Swoop and will feature a fluorescent pink logo on its planes; it will start taking bookings in February 2018 and begin flying near the end of June 2018. The name Swoop was chosen from 985 suggestions made by employees because it denotes “swooping” into the market with a new business model. The company expects its fares to be roughly 40% lower than for regular West- Jet flights. Customers for Swoop should include budget-conscious Canadians who fly out of Buffalo, New York, Bellingham, Washington, Burlington, Vermont, and other Canada-U.S. border cities to take advantage of the fares of U.S. low-cost carriers. WestJet is a top pick for 2017. 2017…