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Travel company Transat A.T. reports Q2 loss, revenue up from nearly 12% from year ago

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Air Transat News

Diluted Share,The Canadian Press

MONTREAL — Transat A.T. Inc. reported a loss of $54.4 million in its latest quarter as its revenue rose nearly 12 per cent compared with a year ago.

The travel company says the loss for the quarter ended April 30 amounted to $1.40 per diluted share, compared with a loss of $29.2 million or 76 cents per diluted share a year earlier.

The parent company of Air Transat says the increase reflected sustained demand driven by a 12 per cent increase in traffic expressed in revenue-passenger-miles.However, the company says it also faced intensified competition, inefficiencies resulting from an issue with the Pratt & Whitney GTF2 engine used by its aircraft, consequences of union strike threats and an economic slowdown.

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Travel company Transat A.T. reports Q2 loss, revenue up nearly 12% from year agoTransat A.T. Inc. reported a loss of $54.4 million in its latest quarter as its revenue rose nearly 12 per cent compared with a year ago.
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