The company that owns Air Transat disclosed a $12.5 million loss for the most recent quarter, contrasting with a $41.2 million profit from the same period a year earlier. Transat A.T. Inc. revealed that the loss equated to 52 cents per diluted share for the quarter ending on Oct. 31, in contrast to a profit of $1.05 per diluted share in the corresponding quarter last year. In the fourth quarter, Transat’s revenue totaled $771.6 million, a decrease from $788.8 million in the previous year, which had included compensation for Pratt & Whitney GTF engine problems. Excluding the impact of this reduced compensation, Transat noted a 1.5% increase in revenue compared to the previous year. Adjusted for certain factors, Transat reported a loss of 42 cents per share for the latest quarter, in contrast to an adjusted profit of 81 cents per share in the same quarter of the previous year. Recently, Transat managed to avoid a costly work interruption by reaching a new tentative contract agreement with its pilots.
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