Newspaper article The Canadian Press

WestJet Suspends 2019 Financial Guidance after Boeing 737 Max Grounded

Newspaper article The Canadian Press

WestJet Suspends 2019 Financial Guidance after Boeing 737 Max Grounded

Article excerpt

WestJet suspends 2019 financial outlook

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CALGARY - WestJet Airlines is suspending its 2019 financial guidance following the grounding of its 13 Boeing 737 Max 8 aircraft by regulators in Canada and the United States due to safety concerns.

The Calgary-based airline says its financial outlook provided as late as a month ago are being put on hold except for earnings per share, return on invested capital and cumulative free cash flow between 2020 and 2022 until more information is known.

The move follows a similar decision last week by Air Canada, which operates 24 of the narrowbody aircraft.

WestJet says it grounded all Max aircraft within 55 minutes of Transport Canada's order last Wednesday, with only three planes outside of Canada. …

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