Air Transat sees Q1 net loss of $61M, says bookings impacted by strike speculation

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Published March 14, 2024 at 9:09 am

Air Transat sees Q1 net loss of $61M, says bookings impacted by strike speculation

Transat A.T. Inc. reported a net loss of almost $61 million in its latest quarter compared with a net loss of about $56.6 million a year ago as revenue climbed by almost 18 per cent.

The Montreal-based travel company says its first-quarter net loss amounted to $1.58 per share compared to $1.49 per share a year ago.

Revenue for the period ended Jan. 31 amounted to $785.5 million, up from $667.5 million a year prior.

On an adjusted basis, Transat says it lost $2.11 per share in its latest quarter compared with an adjusted loss of $1.62 per share a year ago.

The company says the quarter was impacted by persistent speculation around a potential flight attendant strike that affected bookings across its winter season.

Transat says the speculation lifted in late Friday, when it adopted a new collective agreement.

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