FLAIR AIRLINES CALLS ABRUPT HALT TO NEW ROUTES TO FLORIDA

Flair Airlines has suspended several flight routes to Florida and California just months after expanding service to U. S. destinations. Citing “disappointing load factors,” the ultra- low- cost carrier based in Kelowna, B.C., called an abrupt halt to service from Edmonton, Winnipeg and Toronto to destinations including Miami, Tampa Bay and Palm Springs. The sus- flects future volume declines for manual transmissions, which Magna previously mentioned was experiencing demand headwinds,” said BMO Capital Markets analyst Peter Sklar in a research note.

Magna raised its dividend Friday as it reported its fourth-quarter profit fell from the same period a year earlier. The company, which keeps its books in U. S. dollars, said it will now pay a quarterly dividend of 36.5 cents per share, up from 33 cents per share.

The increased payment to shareholders came as Magna said it earned $456 million or $1.37 per diluted share for the quarter ended Dec. 31.

That compared with a profit of $ 559 million or $1.54 per share in the same quarter a year earlier. Sales totalled $ 10.14 billion, up from $9.68 billion.

On an adjusted basis, Magna said it earned $1.63 per share for the quarter, up from $1.58 per share a year earlier.

Analysts on average had expected a profit of $1.59 per share, according to Thomson Reuters Eikon.

COLE BURSTON / BLOOMBERG Magna International estimates the U.S. tariffs will cost it between US$45 million and US$50 million in 2019, following a US$30-million hit in the last two quarters.