We’re Grounding Our FVEs for Southwest, Westjet, and Air Canada; Delta Remains Our Top Choice
We plan to lower our fair value estimates for Southwest, Air Canada, and Westjet by 5%-6% after U.S. and Canadian authorities grounded Boeing 737 MAX aircraft following the second fatal crash in five months. Among the names we cover, the indefinite grounding affects Southwest, American Airlines, United Continental, Air Canada, and Westjet. We find Southwest, Air Canada, and Westjet the most affected because MAX aircraft make up 8% of Air Canada’s current fleet and most of its 2019 aircraft deliv...United Airlines Holdings is a holding company and its principal, wholly-owned subsidiary is United Airlines, Inc. (United). The company is engaged in the transportation of people and cargo throughout North America and to destinations in Asia, Europe, Africa, the Pacific, the Middle East and Latin America. The company, through United and its regional carriers, operates flights to airports, with its hubs at Newark Liberty International Airport, Chicago O'Hare International Airport, Denver International Airport, George Bush Intercontinental Airport, Los Angeles International Airport, A.B. Won Pat International Airport, San Francisco International Airport and Washington Dulles International Airport.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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