The Financial Post reports in its Friday edition that Transat has posted a loss in its latest quarter compared with a profit a year ago as it was hit by rising fuel prices.
A Canadian Press dispatch to the Post says that the travel company lost $4-million or 11 cents per diluted share for the third quarter, compared with a profit of $26.6-million or 72 cents per share in the same quarter last year.
Excluding non-operating items, Transat reported an adjusted loss of $3-million or eight cents per share for the quarter compared with an adjusted profit of $26.9-million or 73 cents per share a year ago.
Revenues totalled $696.6-million, down from $733.2-million in the same quarter in 2017 when its results included $77-million from its Jonview subsidiary, which was sold last November. Transat's number of travellers was up 11.5 per cent in the transatlantic market, while capacity increased by 13.9 per cent. Transat closed Thursday at $8.25, down 57 cents on the Toronto Stock Exchange.
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