WJA stalks new markets

Article Excerpt

WESTJET AIRLINES $21.85 (Toronto symbol WJA; TSINetwork Rating: Extra Risk) (1-877493-7853; www.westjet.com; Shares outstanding: 123.3 million; Market cap: $2.6 billion; Dividend yield: 2.6%) will launch a new, ultralow-cost carrier (ULCC) in Canada. To keep costs down, WestJet will likely use its existing aircraft and introduce its no-frills carrier on routes it already serves. It aims to start flights in late 2017. In addition, the company will buy 10 Boeing 787-9 Dreamliner aircraft for delivery between early 2019 and the end of 2024. It will also have the option to buy 10 more through 2024. Those new aircraft should let the airline better compete with rival Air Canada in Europe . It should also be able to open up new markets in Asia, Australia and South America. WestJet is a top pick for 2017. 2017…