MONTREAL—Rising fuel costs and fluctuating exchange rates buffeted Transat A.T.’s profit margins last quarter, prompting a 54 per cent plunge in adjusted operating income to $35.9 million. The next month, Transat signed a deal to sell its Jonview Canada subsidiary to a Japanese company for $44 million. Its fourth-quarter profit amounted to 21 cents per share for the quarter ended Oct. 31, compared with a profit of $148.1 million or $3.97 per share a year ago. On an adjusted basis, Transat says it earned 45 cents per share in its most recent quarter, compared with an adjusted profit of $1.24 per share in the same quarter last year. Analysts on average had expected a profit of 41 cents per share, according to Thomson Reuters Eikon.

Source: thestar December 13, 2018 14:15 UTC