Transat A.T. suffers another loss in the second quarter

Despite the confirmed recovery, Air Transat recorded a net loss of $98.

Transat A.T. suffers another loss in the second quarter

Despite the confirmed recovery, Air Transat recorded a net loss of $98.3 million in the second quarter of 2022, compared to $69.6 million in the corresponding quarter of 2021.

The net loss attributable to shareholders therefore represents a decline from $1.84 to $2.60 per diluted share, while the operating loss fell from $86.4 million in the second quarter of 2021 to $87.5 million for the second quarter of the current year.

However, the Quebec tour operator's revenues jumped to $358.1 million for the quarter ended April 30, from just $7.5 million a year earlier.

“When the effect of Omicron wore off in late February, operations and sales resumed vigorously. This enabled us to achieve a very encouraging end to the quarter (...). We see a strong recovery and we continue to put in place all the necessary measures to take advantage of it,” said Annick Guérard, President and Chief Executive Officer of Transat, in a press release.

She estimates that without the steep rise in fuel prices, the company's adjusted operating income would have been positive in April. “We have set up a fuel hedging program to protect us from significant upward movements during the summer,” said Ms. Guérard.

According to her, sales are continuing “very satisfactorily for the summer”.

Yorum yapabilmek için üye girişi yapmanız gerekmektedir.

Üye değilseniz hemen üye olun veya giriş yapın.

NEXT NEWS