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 during the same period the previous year. The company disclosed that the loss equated to 52 cents per diluted share for the quarter concluding on Oct. 31, a decline from the $1.05 per diluted share profit recorded a year earlier.
Revenue for Transat’s fourth quarter stood at $771.6 million, a decrease from $788.8 million in the prior year, which had included compensation linked to Pratt & Whitney GTF engine problems. Transat clarified that excluding the impact of this reduced compensation, revenue actually rose by 1.5% compared to the previous year.
Adjusting for certain factors, Transat reported a loss of 42 cents per share in the latest quarter, in contrast to an adjusted profit of 81 cents per share during the corresponding quarter in the previous year. Recently, Transat managed to avoid a potentially costly work stoppage by reaching a new tentative contract with its pilots.