In posting its third-quarter results for 2014, Transat A.T. said today that the numbers represent one of the company’s strongest third quarters, despite a lower net income result compared to 2013.
In its third-quarter report released today, Transat posted revenues of $941.7 million for the quarter ended July 31, 2014, an increase of 1.6 per cent from $927 million reported last year. The company recorded adjusted operating income of $46.8 million, down from $54.4 million last year, and net income of $25.8 million, compared with $41.1 million posted in the same period for 2013. Before non-operating items, Transat reported adjusted net income of $26.7 million in 2014, compared to $30.8 million in 2013.
The company attributed the lower adjusted operating income results in part to a stronger transatlantic market, which grew in capacity by more than 10 per cent last quarter, according to a release from Transat.