Transat launches Black Friday sale, on now through Nov. 27

Transat reports $126.2M fourth quarter loss and $573.1M revenue

MONTREAL — Travel company Transat A.T. Inc. reported a fourth-quarter net loss attributable to shareholders of $126.2 million compared with a loss of $121.3 million in the same quarter last year.

The parent company of Air Transat says the loss amounted to $3.32 per diluted share for the quarter ended Oct. 31 compared with a loss of $3.21 per diluted share a year ago.

Revenue totalled $573.1 million, up from $62.8 million in the same quarter last year.

Excluding non-operating items, Transat reported an adjusted net loss of $75.9 million or $2.00 per share for its fourth quarter compared with an adjusted loss of $118.4 million or $3.14 per share a year earlier.

Transat chief executive Annick Guerard says the recovery in travel, already apparent in the third quarter, accelerated in the fourth.

In its outlook for 2023, the company says it expects to deploy capacity equivalent to 90 per cent of the 2019 level.