Transat A.T. Inc., the parent company of Air Transat, has reported a loss of $12.5 million in its most recent quarter, a significant drop from the $41.2 million profit recorded in the same quarter last year. The loss equated to 52 cents per diluted share for the quarter ending on Oct. 31, compared to a profit of $1.05 per diluted share a year earlier.
Revenue for Transat’s fourth quarter totaled $771.6 million, a decrease from $788.8 million in the previous year. The prior year’s revenue was boosted by compensation related to Pratt & Whitney GTF engine issues. Excluding this compensation effect, Transat indicated a 1.5% revenue increase compared to the previous year.
On an adjusted basis, Transat reported a loss of 42 cents per share in the latest quarter, in contrast to an adjusted profit of 81 cents per share in the corresponding quarter of the previous year. Recently, the company managed to avoid a potential costly work stoppage by reaching a new tentative contract with its pilots.
