March 15, 2019 / 2:14 PM / 2 months ago

BUZZ-Air Canada: Suspends 2019 outlook on 737 MAX groundings, shares dip

** Shares of Canada’s largest airline drop ~3 pct pct to C$31 after suspending 2019 outlook, following grounding of Boeing Co’s 737 MAX planes

** AC had expected to grow its fleet of 24 MAX jets to 36 by 2019-end

** Shares fall for 4th straight day, erasing ~7 pct from the stock’s value over four days

** Canada and U.S. on Weds joined other countries across the world in grounding the planes, after a deadly Ethiopian Airlines plane crash that killed all 157 people on board

** Shares of Rival Westjet Airlines Ltd, which operates 13 MAX jets, were trading down ~1 pct in early trading

** On a YTD basis, AC up ~19 pct, WJA ~9 pct (Reporting by John Benny in Bengaluru)

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