(RTTNews) - Transat A.T. Inc. (TRZ.TO, TRZ_B.TO), a Canadian leisure travel company, on Thursday reported a net loss for the fourth quarter.
For the three-month period to October 31, the company posted a net loss of C$12.489 million, compared with a profit of C$41.227 million in the same period last year. Excluding items, loss stood at C$18.666 million, or C$0.42 per share, as against the prior year's profit of C$31.558 million, or C$0.81 per share.
Operating income was C$0.248 million, down from C$64.700 million in the previous year. Adjusted EBITDA declined to C$71.4 million from C$128.4 million in 2024, due to lower revenues, as well as higher aircraft maintenance costs, salaries, and staff benefits.
Revenue stood at C$771.6 million, less than C$788.8 million a year ago.
Traffic, expressed in revenue-passenger-miles, decreased by 2%, resulting from a capacity reduction of 1.8% compared to the corresponding period last year.
Looking ahead, Annick Guerard, CEO of Transat, said: "We are optimistic about accelerating our growth trajectory in 2026. Targeted network expansion across destinations in Africa, Europe and South America, combined with fewer grounded aircraft and network optimization, should result in increased capacity for 2026. In addition, we expect to derive the full impact from our Elevation Program through revamped cost and revenue management practices."
For fiscal 2026, the company expects a 6% to 8% increase in capacity, measured in available seat-miles, compared with 2025.
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