Stock in WestJet Airlines Ltd. (TSX:WJA) and Jazz Air Income Fund (TSX:JAZ.UN) felt a downdraft Tuesday in the first trading since a failed terrorist attack on Christmas Day caused authorities to heighten security measures across North America. WestJet (TSX:WJA) dropped 17 cents or 1.4 per cent to $12.29 at the Toronto Stock Exchange shortly after trading resumed after a four-day holiday weekend while Jazz, an affiliate of Air Canada, dropped 12 cents or 2.7 per cent to $4.26.
There was a smaller impact on Air Canada (TSX:AC.B), which initially fell but was unchanged at $1.25 in early trading. Montreal-based travel company, Transat AT Inc. (TSX:TRZ.B), which slipped $1.10 or more than five per cent to $20.10. There’s a potential for travellers to be put off flying because of new security measures put in place following an attempted attack on a Detroit-bound flight of a Northwest Airlines flight on Friday.
Travellers now face a pat-down by security agents and tougher restrictions on what they may take on the plane.