MONTREAL - Transat AT Inc. said fuel prices and exchange rates contributed to a drop in year-over-year profits last quarter, that nonetheless beat analysts’ expectations amid higher revenues. On an adjusted basis, Transat lost $6.31 million or 17 cents per share for the quarter compared with an adjusted loss of $456,000 or one cent per share during the same period in 2018. That beat analysts’ expectations of a loss of 23 cents per share, according to Thomson Reuters Eikon. Revenue rose more than three per cent to $897.4 million from $867.2 million. The Montreal-based company said aircraft fuel costs rose nearly 12 per cent year over year last quarter to $118.9 million.

Source: thestar June 13, 2019 14:26 UTC