Transat Reduces Loss In First Quarter
Canadian travel operator Transat AT's net loss narrowed to CAD$15.1 million in the first quarter from CAD$29.5 million a year earlier.
Revenue fell 3 percent to CAD$805.7 million. The number of travellers fell nearly 13 percent as the company cut capacity.
Transat, which competes with WestJet Vacations and Air Canada Vacations, said second-quarter selling prices were higher than last year in most of its markets. Capacity on its sun destinations market was around 10 percent lower in the quarter than last year. Load factor was also poorer.
Sun destinations such as Roatan in Honduras, Huatulco in Mexico and Grenada in south-eastern Caribbean Sea, contribute a significant part of the company's winter business.
Capacity on the transatlantic market was down 18 percent.