March 8, 2018 / 3:21 PM / 5 months ago

BUZZ-WestJet: Cuts key revenue metric forecast on bad weather

** Shares of Canada’s WestJet drop more than 5 pct after slashing Q1 forecast for revenue per available set mile (RASM)

** WJA now expects RASM growth of 2.5-3.5 pct vs previous forecast of 4.5-5.5 pct due to “significant weather events”

** Says experienced 25 days of irregular operations in first two months of 2018

** WJA also announces retirement of CEO of 8 years Gregg Saretsky; Stock had risen ~64 since Saretsky took top job in March 2010

** Saretsky focused on evolving WJA from a single brand into a multi-brand service including its ultra-low-cost carrier Swoop - due to be launched in June

** Including today’s losses, stock down nearly 9 pct YTD (Reporting by John Benny)

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