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Transat AT Inc
Symbol TRZ
Shares Issued 41,033,200
Close 2026-08-21 C$ 2.37
Market Cap C$ 97,248,684
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Globe/CP say fuel costs have Transat begging to feds

2026-08-24 07:02 ET - In the News

The Globe and Mail reports in its Saturday edition that Transat AT paid more than ever for jet fuel in its latest quarter due to the ripple effects of the Iran war, prompting the company to seek further federal aid. A Canadian Press dispatch to The Globe says the cost of fuel for the airline climbed by $105-million in the three months ended July 31, compared with a year earlier. The amount also marked a 50-per-cent increase from the additional expense Transat paid in the preceding second quarter, according to chief executive Annick Guérard. Combined, the two quarters saw the Montreal-based company pay an extra $175-million for the refined kerosene that powers its 42 planes. For an outfit that made $242-million in total last year -- and that lost nearly $140-million in 2023 and 2024 combined -- the expense stands out on the income statement. Blue skies have yet to emerge for airlines. Energy market volatility is expected to keep up the pressure on jet fuel costs across the industry. In North America, jet fuel costs nearly $160 (U.S.) per barrel, up almost 75 per cent from the year before. However, prices are down from their April peaks. Transat said it cannot pass much of the higher fuel costs onto passengers.

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