Transat A.T. Inc., the parent company of Air Transat, experienced a loss of $12.5 million in its most recent quarter, contrasting with a $41.2 million profit in the corresponding period a year ago. The loss equated to 52 cents per diluted share for the quarter ending on Oct. 31, a decline from the $1.05 per diluted share profit recorded in the prior year.
Total revenue for Transat in its fourth quarter was $771.6 million, a decrease from $788.8 million in the same period last year, where the company had received compensation linked to Pratt & Whitney GTF engine issues. Excluding the impact of this reduced compensation, Transat indicated a 1.5% rise in revenue compared to the previous year.
On an adjusted basis, Transat reported a loss of 42 cents per share in its latest quarter, in contrast to an adjusted profit of 81 cents per share in the equivalent quarter of the previous year. Recently, the company narrowly avoided a potentially expensive work stoppage by reaching a new tentative contract agreement with its pilots.