07:14:00 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Transat AT Inc
Symbol TRZ
Shares Issued 38,674,448
Close 2024-03-14 C$ 3.97
Market Cap C$ 153,537,559
Recent Sedar Documents

Globe/CP say Transat loses $61M in Q1 amid strike fears

2024-03-15 08:54 ET - In the News

The Globe and Mail reports in its Friday edition that Transat has reined in summer growth plans as grounded planes continue to weigh on profit margins -- after fears of a strike hit bookings last quarter, yielding a net loss of $61-million. A Canadian Press dispatch to The Globe quotes chief executive officer Annick Guérard saying, "The persisting speculation of a strike by flight attendants starting last November clearly affected bookings and yield for the winter season." The Montreal-based tour operator's 2,100 flight attendants voted 99 per cent in favour of a strike mandate that month and twice rejected tentative deals before approving a new collective agreement in late February. Ms. Guérard said bookings fell after the right-to-strike vote and the two deal rejections, and shot up again following each announcement of a tentative agreement. As a consequence, Air Transat's seat capacity ramp-up of 25 per cent in its first quarter ended Jan. 31 exceeded its passenger increase of 20 per cent, resulting in slightly emptier planes en route to sun destinations. Air Transat is also among the carriers facing serious knock-on effects from the recall of Pratt & Whitney turbofan jet engines for inspection and repair.

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