A deadweight loss for Transat A.T. in the third quarter

A deadweight loss for Transat A. T. in the third quarter

UPGRADE DAY

Despite the recovery observed in the airline sector, Air Transat suffered a net loss of $106.5 million, or $2.82 per diluted share, compared to $138.1 million or 3, $66 per diluted share, for the same period of 2021. 

Operating losses were $93.2 million, an improvement of $5.2 million from a year over year.

The airline's revenues increased by $495.8 million compared to a third quarter of 2021 with almost no activity, Air Transat said.

< p>A comparison with the corresponding quarter of 2019, i.e. before the COVID-19 pandemic, indicates a drop of 27%, or $190.6 million.

Still is- Transat A.T. sees quarter-over-quarter improvement as unrestricted cash stood at $511.3 million for the quarter ended July 31.

“Our prudent planning and the quality of execution exceptional performance of our teams allowed us to deploy almost all of our programming, with constantly improving load factors,” said Annick Guérard, President and Chief Executive Officer of Transat.