December 8, 2017 / 5:25 PM / 2 months ago

WestJet to gain market share with Delta joint venture: Moody's

(Reuters) - WestJet Airlines Ltd’s (WJA.TO) joint venture with Delta Air Lines Inc (DAL.N) will put the Canadian air carrier in a stronger position to gain market share, credit rating agency Moody’s Investors Service said.

    WestJet on Wednesday announced the Delta joint venture to boost its trans-border flight service and said it expects to nearly double the number of aircraft owned by the carrier by 2020 as it targets both cost-conscious passengers and higher-paying customers.

    WestJet’s decision is credit positive for unsecured debt holders. However, it faces execution risk in carrying out large scale projects simultaneously, Moody’s said in a note published on Thursday.

    Shares of Canada’s second-largest air carrier were up 0.8 percent on Friday.

    Reporting by Anirban Paul in Bengaluru; Editing by Anil D'Silva

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below