nsat AT reported higher profit and revenue in its fiscal fourth quarter, better than the declines expected by analysts, thanks to a combination of higher traffic, financial compensation and lower costs.
The Canadian vertically-integrated tour operator on Thursday posted net income of 41.2 million Canadian dollars ($29.1 million), or C$1.05 a share, for the three months ended Oct. 31, up from C$3.2 million, or C$0.08 a share, in the comparable quarter a year ago.
Adjusted earnings were C$0.67 a share. According to FactSet, analysts were expecting a loss of C$31 a share.
Revenue rose 3.2% to C$788.8 million, beating analyst expectations of a decline to C$758.1 million. Transat credits the increase to higher traffic as well as financial compensation of C$33.6 million from the manufacturers of its Pratt & Whitney geared turbofan engines
Should find out soon what Compensation AC will receive from P&W