Despite the uncertainty caused by the appearance of the Omicron variant, Transat AT is staying the course and considers itself on the “path to a return to normal”. The tour operator also expects to recall 1,500 people in 2022.
In view of the winter season, the Quebec company expects its capacity to be 60% of what it was before the COVID-19 pandemic, which shook the airline industry.
The parent company of Air Transat painted this portrait Thursday, on the occasion of the publication of its results for the fourth quarter ended October 31, where it reduced its loss, and at the end of the year.
“While remaining cautious about the evolution of variants, we remain optimistic that we are on the path to a return to normal”, underlined the president and CEO of Transat AT, Annick Guérard, in a statement.
She added that since July 30, when activities gradually restarted, the company, which currently has some 2,000 employees, had “reached and exceeded” its objectives.
The tour operator expects to offer flights to eight destinations in Europe, 22 to sunny destinations and five more in the United States from eight Canadian airports, including Montreal-Trudeau.
“We will then further increase the volume for the summer season, which will include two new routes to Europe and two new destinations in the United States,” said Mr.me Guérard.
PHOTO DAVID BOILY, THE PRESS
Annick Guérard has been at the helm of Transat AT since the end of May.
During the three months of August, September and October, Transat AT saw its net loss attributable to shareholders stand at 121 million, or $ 3.21 per share, compared to 238 million, or $ 6.31 per share, one year ago.
Its revenues stood at around 63 million while its activities gradually restarted on July 30 after a hiatus of a few months due to the health crisis.
As reservations were up, cash consumption fell to $ 15 million in the fourth quarter. As of October 31, Transat AT had access to 603 million to support its activities.
Excluding one-time items, the adjusted loss was 118 million, or $ 3.14 per share, compared to 156 million, or $ 4.14 per share, in the fourth quarter last year.
For the year, the net loss was $ 389 million, or $ 10.32 per share. Revenue was $ 124 million.