Transat revenue down 1.3% but profits up in FY2010

Transat revenue down 1.3% - financial highlights for the 12 months ended 31-Oct-2010:

• Revenue: USD3481 million, -1.3% year-on-year;
• Operating costs: USD3354 million, -2.3%;
• Operating profit: USD126.9 million, +36.6%;
• Net profit: USD65.3 million, +6.1%;
• Total debt: USD669.4 million, +32.6%;
• Net debt: USD417.7 million, +64.4%. [more]

*Based on the conversion rate at USD1 = CAD1.00504

Transat: "The summer of 2010 was our best ever, as our teams were able to generate excellent load factors on the transatlantic market, allowing us to offset the results recorded last winter, which had been difficult. Consequently, we end the year on a very positive note, with a much increased margin compared with 2009," Jean-Marc Eustache, President and Chief Executive Officer. Source: Transat, 16-Dec-2010.