MONTREAL — Air Transat will offer nonstop service between Montreal and Lyon in winter 2023-2024.
In the winter months, the route will operate three days a week from Montreal on Tuesdays, Fridays and Saturdays. With the added service Air Transat will be the only airline to operate the route year-round. Air Transat already flies up to seven times per week between Montreal and Lyon in the summer season. The carrier services a total of eight French cities including two on a year-round schedule, namely Paris and now Lyon.
Air Transat will use its new generation A321LR aircraft on the route. The aircraft features spacious cabins, state-of-the-art in-seat entertainment systems and the lowest fuel consumption and greenhouse gas emissions (CO2 and NOx) in its class.
Lyon is known for its gastronomy as well as its easy access to the French Alps, says Michèle Barre, Air Transat’s Chief Revenue Officer.
“As the leading carrier between Quebec and France, it was natural for us to add Lyon and its region to our winter program,” said Barre.
“Route annualizations are part of our development strategy and, incidentally, our A321LR fleet is the best tool to meet this goal. We are delighted to meet the growing demand between Canada and France, which will benefit winter sports enthusiasts, business travellers and the expat community alike,” she added.
TRANSAT’S 2023 FIRST QUARTER RESULTS
Transat AT Inc. reported a $56.6-million loss in its latest quarter compared with a loss of $114.3 million a year earlier as its revenue more than tripled.
Transat chief executive Annick Guerard says the company is on an upswing and is headed for a return to profitability.
“The momentum from the end of 2022 continues, confirming our financial scenarios … These results are especially encouraging since the first quarter, which falls in the shoulder period, is usually the lowest of the year,” says Guerard.
According to the Q1 report, the company’s loss amounted to $1.49 per diluted share for the quarter ended Jan. 31. compared with a loss of $3.03 per diluted share a year earlier.
Revenue in what was the first-quarter of the company’s 2023 financial year totalled $667.5 million, up from $202.4 million a year earlier when the company had to scrub nearly 30% of its scheduled flights as a result of booking cancellations following the emergence of the Omicron variant.
On an adjusted basis, Transat says it lost $1.62 per share in the quarter compared with an adjusted loss of $2.53 per share in its first quarter last year.
Analysts on average had expected a loss of $2.02 per share and $662.5 million in revenue, according to estimates compiled by financial markets data firm Refinitiv.
The outlook for the full fiscal year in 2023 looks promising, with the company expecting to deploy capacity equivalent to 90% of the 2019 level.
To date, for the second quarter of 2023, although load factors are 3 percentage points lower than in 2019, airline unit revenues are significantly higher and show a more than 25% increase. The combination of demand and higher prices will allow the Corporation to cope with higher costs. While it is too early to have a complete picture for the summer, the winter trends seem to be continuing into summer 2023.
With file from The Canadian Press
