Air Transat’s parent company reports $12.5M loss in latest quarter
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Air Transat’s parent company reported a loss of $12.5 million in its latest quarter, compared with a profit of $41.2 million in the same quarter last year.
Transat AT Inc. It said it had a loss of 52 cents per diluted share in the quarter ended Oct. 31, compared with a profit of $1.05 per diluted share a year earlier.
Transat’s fourth-quarter revenue totaled $771.6 million, down from $788.8 million a year earlier, when it benefited from compensation related to Pratt & Whitney GTF engine issues.
Excluding the impact of this lower compensation, Transat said revenues increased 1.5 percent from a year earlier.
On an adjusted basis, Transat said it lost 42 cents per share in its latest quarter, compared with an adjusted profit of 81 cents per share in the same quarter last year.
Last week, Transat avoided a costly work stoppage when it reached a new temporary contract with its pilots.
