WestJet wins oil sands deal

Article Excerpt

WESTJET AIRLINES $22.81 (Toronto symbol WJA; TSINetwork Rating: Extra Risk) (1- 877-493-7853; www.westjet.com; Shares outstanding: 120.5 million; Market cap: $2.8 billion; Dividend yield: 2.5%) has reached a multi-year deal to act as the carrier for Suncor Energy (symbol SU on Toronto, and a recommendation of our Successful Investor newsletter). Neither company has disclosed the financial terms of the agreement. Under the deal, WestJet will fly Suncor’s employees and contractors to and from its oil sands operations in Northern Alberta beginning in early November. Suncor will sell its own in-house fleet of three jets. WestJet will use a combination of its Boeing 737 Next-Generation and Bombardier Q400 NextGen aircraft on six routes in and out of the Regional Municipality of Wood Buffalo, Alberta. The agreement with Suncor will involve more than 100 weekly flights to and from Edmonton, Calgary, Vancouver, Kelowna, Saskatoon and Fort McMurray. WestJet is a top pick for 2016. 2016…