MONTREAL — Travel company Transat A.T. Inc. reported a fourth-quarter profit of $41.2 million, up from $3.2 million in the same quarter last year.

The company behind Air Transat says the profit amounted to $1.05 per diluted share for the quarter ended Oct. 31, up from a profit of eight cents per diluted share a year earlier.

On an adjusted basis, Transat says it earned 67 cents per share in its latest quarter compared with an adjusted profit of 41 cents per share in the same quarter last year.

Revenue for the quarter totalled $788.8 million, up from $764.5 million a year ago.

The increase came as traffic expressed in revenue-passenger-miles rose 2.7 per cent compared with 2023 and the company recorded $33.6 million in compensation from Pratt & Whitney related to grounded aircraft over the past two years.

Transat’s capacity was up 4.0 per cent compared with a year earlier.

This report by The Canadian Press was first published Dec. 12, 2024.

Companies in this story: (TSX:TRZ)

The Canadian Press