Transat 3QFY2009 revenue down 4.7%
Transat revenue down 4.7% - financial highlights for the three months ended 31-Jul-2009:
- Revenue: USD744.9 million, -4.7% year-on-year;
- Operating costs: USD720.2 million, -6.3%;
- Net profit: USD28.2 million, compared to a loss of USD813,636 in the previous corresponding period.
- *Based on the conversion ate at USD1 = CAD1.10 [more]
Transat: “With regard to Canada-Europe travel, which represents an important part of the Corporation’s business in the fourth quarter, reservations from Canada to Europe are higher than the 2008 levels whereas reservations from Europe are trailing. The prices should be lower but these should be partially offset by the lower fuel costs and potentially by higher load factors. Reservations and the passenger load factor for travel to sun destinations from Canada are similar to 2008. Lower prices could be offset by lower fuel costs and the positive impact of lower airline seat costs. In France, medium-haul travel is tracking higher than in 2008, whereas long-haul travel continues to trail behind. In France, a reduction in selling prices may not be fully compensated by a reduction in fuel costs,” Company statement. Source: Transat, 10-Sep-2009.