Transat chief executive Annick Guerard says the company is on an upswing and is headed for a return to profitability
The travel company says the loss amounted to $1.49 per diluted share for the quarter ended Jan. 31. compared with a loss of $3.03 per diluted share a year earlier.
Revenue in what was the first-quarter of the company’s 2023 financial year totalled $667.5-million, up from $202.4-million a year earlier when the company had to scrub nearly 30 per cent of its scheduled flights as a result of booking cancellations following the emergence of the Omicron variant. On an adjusted basis, Transat says it lost $1.62 per share in the quarter compared with an adjusted loss of $2.53 per share in its first quarter last year.
Analysts on average had expected a loss of $2.02 per share and $662.5-million in revenue, according to estimates compiled by financial markets data firm Refinitiv.Your Globe
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