Transat AT Inc
TSX:TRZ
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Transat AT Inc
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Transat AT Inc
Transat A.T., Inc. develops and markets holiday travel services in packages, including air travel and hotel stays, and air-only formats. The company is headquartered in Montreal, Quebec and currently employs 1,475 full-time employees. The firm's business consists of a Canadian leisure airline, offering international and Canadian destinations, and is vertically integrated with its other services of holiday packages, distribution through a travel agency network and services at travel destinations. The company is a provider of holiday travel particularly as an airline under the Air Transat brand. The company flies to international and Canadian destinations serving its customers at every stage of their trip or stay. Its air transportation program includes flight operations, operational control, aircraft maintenance, cabin operations, ground handling, cargo operations, and security. Its destination service provides a range of products for customers of outgoing tour operators. Its retail distribution consists of providing advice to travelers and selling consumer products. The company also has outgoing tour operators.
Transat A.T., Inc. develops and markets holiday travel services in packages, including air travel and hotel stays, and air-only formats. The company is headquartered in Montreal, Quebec and currently employs 1,475 full-time employees. The firm's business consists of a Canadian leisure airline, offering international and Canadian destinations, and is vertically integrated with its other services of holiday packages, distribution through a travel agency network and services at travel destinations. The company is a provider of holiday travel particularly as an airline under the Air Transat brand. The company flies to international and Canadian destinations serving its customers at every stage of their trip or stay. Its air transportation program includes flight operations, operational control, aircraft maintenance, cabin operations, ground handling, cargo operations, and security. Its destination service provides a range of products for customers of outgoing tour operators. Its retail distribution consists of providing advice to travelers and selling consumer products. The company also has outgoing tour operators.
Revenue: Revenues grew to $871 million, up 5% year‑over‑year, driven by a 2.2% traffic increase and 1.4% yield improvement.
Profitability: Adjusted EBITDA rose to $34 million (up 68% YoY), while GAAP net loss narrowed to $29 million ($0.73/share) from $122 million last year.
Cash strength: Operating cash flow improved to $296 million and free cash flow to $247 million, leaving cash and cash equivalents of $387 million and net cash of $12 million after recent repayments.
Operations: Fleet of 43 aircraft with 4 grounded in Q1 due to Pratt & Whitney GTF issues; grounded aircraft expected to fall to 3 by summer and be fully resolved by end‑2027/early‑2028.
Network & demand: Capacity up ~1% (ASMs) in Q1 and sun capacity +4.4%; management is diversifying into Europe, Africa and South America and launched new routes that are performing well.
Cuba disruption: Flights to Cuba suspended through April 30 due to anticipated fuel shortages; Cuba represented ~10% of winter season capacity and will negatively affect Q2 but management redeployed some capacity.
Elevation & loyalty: Elevation program driving ~ $70 million of the $100 million target embedded in P&L so far; new co‑branded loyalty program with Desjardins to launch H2 2026 to drive recurring revenue and market share.
