On Thursday, Transat A.T. Inc. (TRZ_B.TO,TRZ.TO), a leisure travel service provider, reported wider net loss in the second quarter of 2026, and adjusted EBITDA turned negative. The results were hurt by material increase in aviation fuel prices as well as lower revenue from the suspensions of flights to Cuba, despite higher traffic.
Looking ahead for fiscal year 2026, the corporation expects a 4 percent to 5 percent increase in capacity, measured in available seat-miles, compared to 2025.
Net loss for the second quarter went up to C$78.99 million, from a loss of C$22.88 million in the same quarter last year. Net loss per share was C$1.94, compared to a loss of C$0.58 in the previous year.
Adjusted net loss was C$105.00 million, in comparison with net profit of C$4.74 million in the prior year.
Adjusted loss per share for the quarter was C$2.58, compared to earnings of C$0.12 a year ago.
Adjusted EBITDA loss was C$20.74 million, in contrast with the profit of C$98.45 million in 2025.
Total revenue for the second quarter was C$1.027 billion, 0.3 percent down from C$1.031 billion in the previous year.
The company noted that suspension of flights to Cuba resulted in a revenue shortfall of C$81.0 million compared with 2025, partially offset by a 3.9 percent increase in traffic, expressed in revenue-passenger-miles.
On the Toronto Stock Exchange, the shares ended Wednesday's trading 0.83 percent lower at C$2.400.
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