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Transat AT reports $3.2M Q4 profit compared with a loss a year ago

MONTREAL — Transat AT Inc. reported a profit of $3.2 million in its latest quarter compared with a loss a year ago as its revenue rose more than 30 per cent.

The travel company says the profit amounted to eight cents per share for the quarter ended Oct. 31 compared with a loss of $126.2 million or $3.32 per share in the same quarter last year.

Revenue for what was Transat’s fourth quarter totalled $764.5 million, up from $573.1 million a year earlier.

On an adjusted basis, Transat says it earned 41 cents per share in its latest quarter compared with an adjusted loss of $2.00 per share a year ago.

Transat also announced it has signed a deal to sell its 50 per cent stake in the Marival Armony Luxury Resort in Mexico to its co-owner, the owner of the Marival Group, for US$15.5 million.

It says the proceeds of the sale will be used to repay debt.

News from © Canadian Press Enterprises Inc., 2023