(Montreal) The Quebec air carrier Transat A. T. reports Thursday that in the fourth quarter of the current fiscal year, its net income stood at 3.2 million, or $0.08 per share, while a year more early on, it suffered a net loss of 126.2 million.
The adjusted net income of Transat A. T. amounted to 15.7 million, or $0.41 per share, compared to the fourth quarter of 2022 when the company suffered an adjusted net loss of 75.9 million.
For the fourth quarter, the company posted revenues of 764.5 million, 191.3 million more than for the corresponding period of 2022, when they reached 573.1 million.
During the entire 2023 financial year, Transat A. T. significantly reduced its net loss, which fell from 445.3 million to 25.3 million in one year. Excluding non-operating items, Transat posted an adjusted net loss of 11.5 million for the year ended October 31, compared to 403.7 million in 2022.
The President and CEO of Transat, Annick Guérard, reports that revenues for the year were up 10% compared to pre-COVID-19 pandemic levels in 2019, despite a decrease of 7%. of capacity. Ms. Guérard adds that the company has reduced its debt and is ending the year with an improved cash balance.
Company cited in this dispatch: Transat A. T. (TSX: TRZ)