Transat A.T. Inc., the parent company of Air Transat, experienced a loss of $12.5 million in its most recent quarter, contrasting with a profit of $41.2 million in the corresponding period last year. The loss equated to 52 cents per diluted share for the quarter ending on October 31, down from a profit of $1.05 per diluted share a year earlier.
Revenue for Transat’s fourth quarter was $771.6 million, a decline from $788.8 million in the previous year, which saw a boost from compensation related to Pratt & Whitney GTF engine problems. Excluding the impact of this reduced compensation, Transat noted a 1.5% revenue growth 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 same quarter the previous year. Recently, the company narrowly averted a potentially costly work stoppage by securing a new tentative contract with its pilots.