News Formal

Labour and engine woes push Transat to a loss as travel company curtails expansion

  • 📰 SooToday
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 85%

Nederland Nieuws Nieuws

Nederland Laatste Nieuws,Nederland Headlines

MONTREAL — Transat A.T. Inc. felt the headwinds of stiff competition, engine recalls and the threat of a union strike last quarter, which together conspired to drain more money from the struggling tour operator.

Transat nearly doubled its losses to $54.4 million in the three months ended April 30 compared with the same period a year earlier. More cash departed its coffers despite a 12 per cent year-over-year boost in revenue, fuelled by an increase in passengers.

They also resulted from"intensified competition" on routes to sun destinations and the drawn-out possibility of a work stoppage, the Montreal-based company said. Air Transat is also among the carriers facing serious knock-on effects from the recall of Pratt & Whitney turbofan jet engines for inspection and repair.

Transat also launched on Wednesday the first phase of its joint venture with Porter Airlines that Guérard hopes will yield benefits via access to its partner's rapidly growing network in Canada and the United States.

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

 /  🏆 8. in NL
 

Bedankt voor uw reactie. Uw reactie wordt na beoordeling gepubliceerd.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Travel company Transat A.T. reports Q2 loss, revenue up from nearly 12% from year agoMONTREAL — 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.
Bron: YahooFinanceCA - 🏆 47. / 63 Lees verder »