Sector Update - Industrials: WestJet, Air Canada Report February Traffic Results; Bombardier Opens Regional Support Office in Mexico

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The S&P/TSX Industrials index was up 0.6% in afternoon trading. Stocks were mixed.

Bombardier (BBD-B.TO): flat

WestJet (WJA.TO): +1.7%


Air Canada (AC-B.TO): +0.9%

Heroux-Devtek (HRX.TO): +0.1%

Magellan Aerospace (MAL.TO): -5.3%

In corporate news, WestJet reported a 7.3% year-on-year increase in revenue passenger miles, or traffic, for February 2014, resulting in a load factor of 84.6%. Available seat miles grew 9.2% over the same period.

The carrier said it is expecting revenue per available seat mile (RASM) for Q1 2014 to be "flat to down slightly" year over year due to "slightly softer" domestic demand and a "larger impact than previously anticipated" from the Easter and Passover holidays shifting into Q2 2014.

Also, For the month of February, Air Canada reported system wide traffic growth of 3.8% on a capacity increase of 4.9%, according to a statement released Friday. Air Canada's system load factor was 79%, versus 79.8% in February 2013, a decrease of 0.8 percentage points.

Lastly, Bombardier Aerospace has opened a new Regional Support Office ( RSO ) in Toluca, Mexico. The office will anchor regional support capabilities for Bombardier business aircraft customers throughout Mexico, and surrounding areas. This is the second Bombardier RSO dedicated to the Latin American region.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Commodities

Referenced Stocks: RSO

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