DALLAS — Transat, operating as Air Transat (TS), has reported strong operating results for the fourth quarter and fiscal year 2023. The company achieved an adjusted EBITDA margin above target and solid free cash flow for the year.

Looking ahead to fiscal 2024, Transat aims to achieve an adjusted EBITDA margin of 7.5–9% and focus on improving its capital structure. In the fourth quarter of 2023, Transat recorded revenues of C$764.5 million, adjusted EBITDA of C$89.0 million, operating income of C$44.7 million, and net income of C$3.2 million.

For the full year 2023, revenues amounted to C$3,048.4 million, adjusted EBITDA reached C$263.3 million, operating income was C$89.7 million, and there was a net loss of C$25.3 million.

Transat also reported positive cash flow from operating activities and an improved cash position. The company plans to execute its strategic plan, including a joint venture with Porter Airlines (PD) and increasing capacity by approximately 19% in 2024.

Featured image: Air Transat C-GKTS Airbus A330-342 | Photo: Tony Bordelais/Airways

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