Transat reports loss in 2022 but hopes to return to profit in 2023

Quebecois carrier Transat reported C$667.5 million (US$ 484.2 million) revenue in 2022 for an adjusted income (EBIDTA) of C$3.3 million but an operating loss of C$38.1 million. The carrier was left with unrestricted liquidity of C567.7 million on January 31 2023, following “strong cash flow generation” of $145.2 million, and customer deposits of C$898.3 million, which it said was “a new high” and meant it was “headed for a return to profitability”. “The momentum from the end of 2022 continues, confirming our financial scenarios,” according to Annick Guérard, president and chief executive, who said Q1 2023 revenue “more than tripled