Travel company Transat AT reports $138.1-million third-quarter loss

MONTREAL – Travel company Transat AT Inc. says it lost $ 138.1 million in its latest quarter compared with a loss of $ 45.1 million in the same quarter last year.

The Montreal-based company says the loss amounted to $ 3.66 per diluted share for the quarter ended July 31 compared with a loss of $ 1.20 per diluted share a year earlier.

Revenue in what was the company’s third quarter totalled $ 12.5 million, up from $ 9.5 million a year ago.

On an adjusted basis, Transat says it lost $ 3.06 per diluted share in its latest quarter compared with an adjusted loss of $ 3.70 per diluted share in the same quarter last year.

Transat began a gradual resumption of flying on July 30 after suspending operations on Jan. 29 when Ottawa requested a suspension of travel to Mexico and the Caribbean as well as the adoption of new quarantine measures and testing requirements.

The company has said it plans to offer flights to nearly 50 cities this winter, including destinations in the Caribbean, Mexico, Central and South America, the United States and Europe.

This report by The Canadian Press was first published Sept. 9, 2021.

Companies in this story: (TSX:TRZ)