The fourth quarter of 2022 saw Canadian carrier Air Transat operating at 91% of capacity compared with 2019, an increase on the 82% level reported for the third quarter. “Travel recovery, which started in the third quarter, accelerated in the fourth quarter,” the airline said in its latest report to investors. “If the trend continues, the outlook for 2023 is encouraging,”said president and chief executive Annick Guérard, Transat said its cash position, with undrawn credit facilities and working capital improvements through faster cash collection, meant it has the “required flexibility” for future operations and would aim for “an adjusted operating

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