Transat revenue up double digits, net loss widens in its Q2 results

Air Transat revenues were up 11.8% year-on-year (YoY) to $973.2 million in its second quarter 2024 ending April 30, 2024. Though, its total operating expenses were up 16.1% YoY to $988.4 million, resulting in a net loss of $54.4 million, versus $29.2 million in second quarter 2023. “Transat delivered double-digit revenue growth for a second consecutive quarter on the strength of increased customer traffic. On the profitability side, adjusted EBITDA declined to $38 million in the second quarter due to well-documented industry-wide and company-specific issues,” said Air Transat president and CEO Annick Guerard. The increase in revenues had largely been attributed