Loading articles...

Transat AT reports $60.5M Q1 loss compared with $33.8M loss a year ago

Last Updated Mar 11, 2021 at 4:47 am PDT

MONTREAL — Transat AT Inc. reported a loss attributable to shareholders of $60.5 million in its latest quarter compared with a loss of $33.8 million a year earlier.

The travel company says the loss for the quarter ended Jan. 31 amounted to $1.60 per diluted share compared with a loss of 90 cents per diluted share in the same quarter a year ago.

Revenue totalled $41.9 million, down from $692.8 million a year ago before the pandemic devastated the travel industry.

On an adjusted basis, Transat says it lost $2.89 per share for its most recent quarter compared with a loss of 54 cents per share a year earlier.

Transat says the future of its deal to be acquired by Air Canada remains uncertain as the deadline for it to be completed passed last month.

Both sides now the right to terminate the agreement which still requires approval from the European Union.

This report by The Canadian Press was first published March 11, 2021.

Companies in this story: (TSX:TRZ, TSX:AC)

The Canadian Press