ERIC ATKINS TRANSPORTATION REPORTER PUBLISHED SEPTEMBER 12, 2019 UPDATED 10 HOURS AGO
Airline and tour operator Transat AT Inc.’s third-quarter loss more than doubled due to fees and executive compensation relating to its impending takeover by rival Air Canada.
For the three months ending on July 31, Montreal-based Transat said it lost $11-million, or 29 cents a share, compared with a loss of $5-million or 13 cents in the same period of 2018.
Revenue rose by 5 per cent to $700-million as vacation prices rose and the number of customers increased by 4 per cent in the company’s main market of transatlantic travel, Transat said in a premarket release on Thursday morning.