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The parent company of Air Transat 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 A.T. Inc. said the loss amounted to 52 cents per diluted share for the quarter that ended Oct. 31, compared with a profit of $1.05 per diluted share one year earlier.
Revenue in what was Transat’s fourth quarter totalled $771.6 million, down from $788.8 million a year ago, when it benefited from compensation related to Pratt & Whitney GTF engine issues.
Excluding the impact of this lower compensation, Transat said revenue increased by 1.5 per cent compared with a year ago.
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 narrowly avoided a costly work stoppage when it reached a new tentative contract with its pilots.