MONTREAL — Transat A.T. Inc. reported a net income of $399.8 million in its latest quarter compared with a loss of $39.9 million in the same quarter last year, as its revenue rose 4.1%.

The parent company of Air Transat says the profit amounted to $9.97 per share for the quarter ended July 31, compared with a loss of $1.03 per share a year earlier.

On an adjusted basis, Transat says it had a loss of 28 cents per share in its latest quarter, compared with an adjusted loss of 93 cents per share in the same quarter last year.

Revenue for what was the company’s third quarter totalled $766.3 million, up from $736.2 million a year ago.

The company’s president and chief executive Annick Guérard says economic uncertainty and capacity redeployment across the industry “are posing short-term challenges” and Transat does not expect fuel costs to “provide the same significant tailwind as they did so far this year.”

Guérard says Transat plans to operate with disciplined cost management and fleet optimization as it expands its network.

Guérard added that Transat is looking forward to the upcoming winter season and Transat’s broader offering. “With new destinations in South America and Türkiye, along with the extension of  transatlantic services, we are pursuing our diversification strategy to offer more leisure travel options,” she said.

With file from The Canadian Press