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Company News

BUZZ-WestJet Airlines: Nosedives on higher costs, weak RASM outlook

** Shares of Canada’s second largest airline fall as much as 12.3 pct to C$17.50; biggest pct loss in more than 15 and a half years

** Co’s fuel expenses rise 34.4 pct to C$302.3 mln, overall expenses up 13.8 pct

** RASM, a measure of efficiency for the company, falls 1.9 pct

** RASM weakness highlights domestic market weakness - say Cormark Securities analysts, adding that co’s Q3 RASM outlook of 4-6 pct is “surprisingly weak”

** CEO Ed Sims says co sees symptoms of ‘oversupply’ in domestic market for air travel

** So far this year stock has fallen ~32 pct this year; bigger rival Air Canada has risen ~7 pct in the same period (Reporting by Anirban Paul)

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