Despite the recovery observed in the airline sector, Air Transat suffered a net loss of $106.5 million, or $2.82 per diluted share, compared to $138.1 million or $3.66 per diluted share, of the same period of 2021.
• Read also: Air Transat: a passenger pays $5,000 after being refused a flight because of illness
Operating losses amounted to $93.2 million, an improvement of $5.2 million year over year.
The airline’s revenues increased by $495.8 million compared to a third quarter of 2021 with almost no activity, Air Transat said.
A comparison with the corresponding quarter of 2019, i.e. before the COVID-19 pandemic, indicates a drop of 27%, or $190.6 million.
Still, Transat AT observed an improvement from one quarter to the next, while unrestricted cash stood at $511.3 million for the quarter ended July 31.
“Our careful planning and the exceptional quality of execution of our teams have enabled us to deploy almost all of our programming, with constantly improving load factors,” said Annick Guérard, President and Chief Executive Officer of Deckchair.