MONTREAL, May 10, 2024 /CNW/ – Transat A.T. Inc. (“Transat” or the “Corporation“) announced today that it will likely not achieve its adjusted EBITDA margin1 forecast for fiscal 2024.
Persistent operational challenges related to Pratt & Whitney’s GTF1engines, market dynamics leading to downward pressure on airline unit revenues (yield), and the consequences of union strike threats, have created a particularly volatile environment. Although the situation may evolve in upcoming months, the current trend places the Corporation on a trajectory to achieve an adjusted EBITDA margin of approximately 5% for fiscal 2024.
Given these factors, the Corporation has deemed it prudent to no longer issue guidance on this metric in the future.
The Corporation will provide further information about its performance and strategies during the second quarter earnings call on June 6th.
About Transat
Founded in Montreal 36 years ago, Transat has achieved worldwide recognition as a provider of leisure travel particularly as an airline under the Air Transat brand. Voted World’s Best Leisure Airline by passengers at the 2023 Skytrax World Airline Awards, it flies to international destinations. By renewing its fleet with the most energy-efficient aircraft in their category, it is committed to a healthier environment, knowing that this is essential to its operations and the destinations it serves. Transat has been Travelife-certified since 2018.