Guest Simcoe Posted September 23, 2003 Share Posted September 23, 2003 WJ just plopped another $125m in the bank at $24.25 a share. If they exercise the Ontario Teachers deal, they have something like $350 million cash and a fleet of around 40 airplanes. They are also buying two more 700's for delivery in 2004. http://www.theglobeandmail.com/servlet/story/RTGAM.20030922.wbwestjet0922/BNStory/Business/ What was the purpose of Zip? To stop WestJet's growth? And what of the unstoppable juggernaut that was Tango, now down a fare class and a paltry 15 or so round trips a day. I think their "success" can be pretty accurately assessed, and to add insult to injury, the Tango and Zip losses were subsidized by employee wage cuts at AC and shafting suppliers. That's gotta feel good..... The newest plan of the week is an assault on the Caribbean, the source of low yield traffic, employee travel and aeroplan redemption giveaways for decades. There's nothing like chasing charter airline revenues with a cost structure 2x as high as charter carriers. When will they ever learn? If it wasn't so desperate, it'd be sad. I wonder what next weeks plan will be? Perhaps a contest is in order? Never fear. They'll be deservedly swept out by whoever wants to gamble with a $700m investment into a high cost carrier. Would you entrust that kind of jack to the existing gang? If Bonderman gets involved, he'll bring in a team who'll set AC straight. The old guard will be histoire. It probably won't be pretty but the end result will be a viable airline, which is a long way from where it is today. Need we be reminded that Bonderman is chairman of the Board of Ryanair, and Ryanair is ruthless about cutting dogs. Hmm. I wonder how many dogs AC has in its route schedule? Something lost $624 million in the first half of the year and over $2b in the last couple of years..... Link to comment Share on other sites More sharing options...
Guest WA777 Posted September 23, 2003 Share Posted September 23, 2003 Ah yes..... but the WJ float grows again..... Link to comment Share on other sites More sharing options...
Guest Patrick Bergen Posted September 23, 2003 Share Posted September 23, 2003 Just out of curiousity, why do you hate Air Canada so much? Let it go man. You won't make Westjet any better of a company by slamming Air Canada or Jazz or Zip or anyone else. Turn the computer off and do something productive with your time. Link to comment Share on other sites More sharing options...
Guest Banana Wind Posted September 23, 2003 Share Posted September 23, 2003 Link to comment Share on other sites More sharing options...
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