WSJ: WestJet To Slow Growth Plans As Economy Hurts Outlook
http://online.wsj.com/article/BT-CO-...05-714131.html
Low-cost air carrier WestJet Airlines Ltd. (WJA.T) is cutting back on its growth plans for 2009 as the weak economy and flu pandemic concerns have sharply curtailed Canadian travel plans.
Calgary-based WestJet now expects to increase its capacity by only 3% this year, down from a planned 5%. For the second quarter, which began in April, growth will be cut to only 1-2%, down sharply from the 7.2% seen in the first quarter and an expected increase of 5%.
Chief Executive Sean Durfy said the outbreak of the H1N1 flu caused the airline to temporarily drop its Mexico routes, while intense competition combined with slowing demand has caused the airline to reduce less-profitable domestic routes.
"We're tweaking the schedule," Durfy said on a quarterly conference call.