Travel Agent Appreciation

Transat by the numbers

Transat A.T. Inc. reports that it posted revenues of $909.1 million for the quarter ended July 31, 2012, compared with $937.0 million in 2011, a decrease of $27.9 million, or 3.0%. The company recorded a margin of $22.1 million, compared with of $14.7 million in 2011, and a net income of $9.4 million ($0.25 per share on a diluted basis), compared with a net loss of $2.8 million ($0.07 per share on a diluted basis) in 2011. Before non-cash and non-operating items, Transat reported an adjusted after-tax income3 of $10.5 million ($0.28 per share on a diluted basis), compared with $2.8 million ($0.07 per share on a diluted basis) in 2011. The company’s president and CEO, Jean-Marc Eustache said: “We had a satisfactory early summer on the transatlantic market, where our unique offering of some 60 city-pairs is tailored to the needs of Canadian and European tourists. The improvement in margin stems from our commercialization efforts and cost reduction measures.” In reporting its results, Transat said that business conditions remain demanding, but the outlook for the fourth quarter has improved during the last three months. The transatlantic market accounts for a very significant portion of Transat’s business in the summer. For the fourth quarter, the company’s capacity is approximately 10% lower than the actual capacity in 2011. To date, slightly more than 85% of the seats have been sold. Load factors and prices are higher than last year. In the sun destinations market from Canada, Transat’s capacity is 17% lower than last year. Load factors and prices are slightly inferior. Go to http://www.transat.com for more.

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