Early summer travels boost Transat’s earnings, outlook
MONTREAL—Shares of Transat surged 10 per cent on Monday to the highest level since early 2015 after the travel company signalled that it is having a significantly more profitable summer season than it had expected.
The Montreal-based company’s shares rose to $8.79 in intraday trading on the Toronto Stock Exchange, up 83 cents from Friday’s close. The stock hasn’t traded above $8.80 since January 2015.
Transat said its third-quarter results will show “significantly higher” adjusted earnings than during the comparable period last year.